Under KSA Chairmanship, Meeting of the Ministerial Committee to Monitor the Agreement to Reduce Oil Production Held

Abu Dhabi, Under the chairmanship of Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy of the Kingdom of Saudi Arabia, Co-Chairman the Russian Minister of Energy Alexander Novak, and the participation of the Ministers of the United Arab Emirates, the Republic of Nigeria, the Republic of Venezuela, Sultanate of Oman,State of Kuwait, Republic of Iraq and Republic of Algeria, and the Secretary General of OPEC, the 16th meeting of the Joint Ministerial Committee to monitor the agreement to reduce oil production, held in the UAE capital Abu Dhabi today between the member countries of the Organization of Petroleum Exporting Countries (OPEC), and the countries that are non-OPEC producers (known as the OPEC + agreement).

OPEC Secretary General Mohammed Barkindo welcomed the chairmanship of Prince Abdulaziz bin Salman bin Abdulaziz to the Joint Ministerial Committee, pointing out that the prince has represented the Kingdom of Saudi Arabia in the best possible way in OPEC, over the past 32 years, stressing that he is a brilliant diplomat with real experience in the oil industry.

At the press conference held after the meeting, Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, affirmed the Kingdom’s determination to continue to reduce oil production by more than its quota in OPEC + agreement, where the Kingdom’s oil production will reach 9,890,000 barrels per day next October.

Source: Saudi Press Agency