Saudi energy minister denies output increase discussion with OPEC+ producers

21/11/2022 Argaam
Energy Minister Prince Abdulaziz bin Salman

Energy Minister Prince Abdulaziz bin Salman

Saudi Energy Minister Prince Abdulaziz bin Salman said the Kingdom is not discussing a potential oil output increase with other OPEC+ producers, denying recent media reports of discussing an increase by 500,000 barrel per day. 
 

"It is well-known that OPEC+ does not discuss any decisions ahead of the meeting," the minister was quoted as saying by Saudi Press Agency (SPA). 
 

"The current cut of two million barrels per day by OPEC+ continues until the end of 2023 and if there is need to take further measures by reducing production to balance supply and demand we always remain ready to intervene," the minister added. 

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