Saudi Arabia, Russia and Kazakhstan stressed the importance of full commitment to the voluntary oil production cuts agreed by the Organization of the Petroleum Exporting Countries and their allies, the Saudi state news agency reported.
OPEC+ members are discussing a further delay to a planned oil output hike that was due to start in January, two sources from the producer group told Reuters on Tuesday, ahead of Sunday’s meeting to decide policy for the early months of 2025.
The remarks follow a meeting on phone held by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, Kazakh Energy Minister Almasadam Satkaliyev, and Russian Deputy Prime Minister Alexander Novak, who is on an official visit to Kazakhstan, SPA said.
“They also stressed the importance of cooperation among OPEC+ member countries and full adherence to the agreement, including the voluntary production cuts agreed upon by the eight participating countries, as well as compensating for any excess production,” SPA reported.
On Tuesday, Prince Abdulaziz and Novak met with Iraqi Prime Minister Mohammed Shia al-Sudani in Baghdad to discuss the conditions of global energy markets and matters related to the production of crude oil, its flow to markets and meeting demand, Iraq’s prime minister’s office said.
Saudi Arabia’s energy ministry said the three nations emphasised the importance of fully committing to the OPEC+ oil supply agreement, including voluntary production cuts agreed by eight member states and measures to compensate for any increases in production.
