The Saudi Council of Ministers affirmed Saudi Arabia’s keenness to enhance the efforts made by the countries of the OPEC Plus group to support the stability and balance of oil markets.
This came during a session of the Saudi Council of Ministers chaired by King Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia.
The Saudi Press Agency reported that the Council reaffirmed the Kingdom’s keenness to enhance the precautionary efforts of OPEC Plus to support the stability and balance of oil markets, including the announcement of extending the voluntary cut in oil production of one million barrels per day, which began to be applied in this July for another month, to include next August with the possibility of extending it.
And Saudi Arabia had announced, on the third of July, the extension of the voluntary cut of one million barrels per day, which began to be applied in the same month for another month, to include the month of August with the possibility of extending it, and thus Saudi Arabia’s production in August 2023 will be approximately 9 million barrels per day.
The Council also discussed the conclusions of the sixth ministerial meeting of the strategic dialogue between the Cooperation Council for the Arab States of the Gulf and the Russian Federation, which was held in Moscow, regarding the adoption of the joint action plan for the period from 2023 to 2028, and coordination on various current political issues at the regional and international levels.
Source: National Iraqi News Agency