Saudi Arabia says it will keep overcomplying with OPEC+ oil cuts

ABU DHABI (Reuters) - Saudi Arabia's new energy minister said on Thursday that the kingdom would continue to overcomply voluntarily with oil output cuts agreed by the OPEC+ producer alliance.

Saudi Arabia's October production would be 9.890 million barrels per day, Prince Abdulaziz bin Salman said after a meeting of ministers from the Organization of the Petroleum Exporting Countries and its allies led by Russia.

Discussions on deeper cuts would be left to the next OPEC meeting, he said, adding that there was a clear readiness among OPEC and its allies to be responsive.

The group will discuss the impact of any easing of U.S. sanctions on OPEC member Iran if and when that happens, he said.

Russian Energy Minister Alexander Novak said the group had discussed and expressed concerns about slowing economic growth.

(Reporting by Reuters OPEC Team, Writing by Nafisa Eltahir; Editing by Dale Hudson)

09/12/2019 10:15

News, Photo and Web Search