No External Interference, ever, Imposing Decisions on OPEC + -Prince-minister of Energy Reaffirmed

Prince-minister of Energy Abdulaziz bin Salman said there is no foreign intervention, ever, imposing decisions on OPEC +, and that the group acts responsibly as well as cautiously.

He reaffirmed the independence of the group against any external interference, with regard to its decisions, explaining the group’s reliance on acting, independently.

Regarding the agreed monthly increases, in oil production, among the alliance, the minister indicated that these increases may or may not occur, as that is done in accordance with the group’s assessment of market conditions, stressing that there are more tools among the OPEC + to be used to manage the market, in the light of the presence of many variables.

He praised the commitment to the production levels, achieved by the group.

It was agreed, at the 24th meeting of the group on January 4, to keep the production policy unchanged, meaning that the members will commit to increasing production by 400,000 barrels per day, in next February.

During February, Saudi Arabia’s production will reach 10.22 million barrels per day, with its share increase of 105,000 barrels per day, compared to the current month.

The next meeting of the group was agreed to be held, on February the 2^nd.