GENERICO.ruЭкономикаSaudi minister intrigues journalists ahead of OPEC+ meeting

Saudi minister intrigues journalists ahead of OPEC+ meeting

VIENNA, June 4 Saudi Energy Minister Prince Abdulaziz bin Salman again tried to intrigue ahead of the OPEC+ meeting in Vienna the market and journalists, saying that no one knows the topics of the alliance's discussions.
“You have no idea what we are discussing,” he said.
This is how the minister answered a question from journalists about the possibility of changing the base levels for the production cuts under the OPEC+ deal.

On Sunday, Vienna will host a meeting of the OPEC+ Ministerial Monitoring Committee and a meeting of all heads of alliance delegations who will discuss the oil market and decide on the advisability of adjusting the oil agreement.

An OPEC conference meeting took place the day before. As Iranian Deputy Oil Minister Amir Hussein Zamaninia told reporters, the countries of the organization did not discuss options for reducing oil production at it, since this is the topic of the meeting of the entire OPEC + alliance. At the same time, the Saudi minister, arriving at that meeting, said that OPEC would discuss «many and exciting things.»

Although no changes were initially expected in the parameters of the oil deal, Reuters reported on Friday, citing sources, that OPEC+, among other options, is discussing an additional cut in production by a million barrels per day. The agency also later announced the possibility of changing the base level of production from which reductions are counted, in particular its increase for the UAE.
OPEC+ countries are now cutting oil production by two million barrels per day until the end of 2023 as part of the deal. At the same time, in April, a number of countries — members of the alliance, including Saudi Arabia, announced that from May they would voluntarily reduce production in excess of quotas — by another 1.16 million barrels per day — also until the end of the year. Russia, in turn, extended the 500 million bpd voluntary cut that began in March for this period.

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