Oman’s Min says appointment of new Saudi Min not to affect OPEC+

ABU DHABI, Sep 9 (PRIME) -- No changes in the policies of the OPEC plus nonmember agreement of oil output reduction are to happen after appointment of Prince Abdul Aziz bin Salman as the new Saudi Arabia’s Energy Minister, Oman’s Oil Minister Mohammed Al Rumhi told reporters on Monday.

“I do not think so. I think they said yesterday that work will be done as usual,” Al Rumhi said.

He said that it is too early to say whether the agreement participants must cut production more in 2020.

In November 2016, OPEC and non-OPEC states including Russia first agreed to reduce their oil output to rebalance the market. In December 2018, the states decided to cut production by an additional 800,000 barrels per day for OPEC and 400,000 barrels per day for non-OPEC states, including 228,000 barrels per day for Russia, from the level of October 2018. In July, they prolonged the deal until April 2020.

End