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  • 03-04-21

    Prince Abdulaziz bin Salman urges OPEC+ producers’ alliance to decide oil output levels

    (MENAFN)Prince Abdulaziz bin Salman, Saudi Arabia’s energy minister, called on the OPEC+ producers’ coalition to work out caution ahead of a key assemble to settle on oil output levels for the 23 members over the next month.

    He further stated to ministers ahead at the monthly assembly that “Until the evidence of the recovery is undeniable, we should maintain this cautious stance.”

    He added that global oil demand recovery was rough in light of the pandemic affect to economic expansion. The prince declared that “For most part, the market is on a stable footing and stocks continue to draw down. In some parts of the world, such as the US and the UK, the rollout of vaccines has been very effective.”

    He also said that “But in the Eurozone, infection rates continue to rise, and countries are reimposing full or partial lockdowns and extending restrictions to combat a third wave.

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