Original title: Major oil producers say plans to cut output will continue until the end of next year
In response to Western media reports that “Saudi Arabia and other major oil-producing countries will discuss increasing oil production by 500,000 barrels per day at the ‘OPEC+’ meeting to be held on December 4”, Saudi Saudi, the UAE and other major oil-producing countries recently criticized this claim has been denied, stressing that the plan to cut production will continue until the end of next year.
According to the Saudi news agency, Saudi Energy Minister Abdul Aziz said on the evening of the 21st local time that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producing countries will not discuss oil production before of the December 4 meeting. Major oil-producing countries plan to cut production by an average of 2 million barrels per day through the end of 2023.
He also said major producers are ready to step in if measures such as further production cuts are needed to balance supply and demand.
On the 22nd, UAE Energy Minister Mazrouei, Kuwaiti Oil Minister Badr Mollah, Algerian Energy and Mines Minister Al-Qab, Iraqi Oil Minister Zahra and others also subsequently issued statements, denying their participation in the “OPEC+” meeting. to increase production.
On October 5 this year, the Organization of the Petroleum Exporting Countries (OPEC) and the non-OPEC oil producing countries announced after their 33rd ministerial meeting in Vienna, the capital of Austria, that, in light of the uncertainties of the economy global oil market and long-term strengthening of the oil market To meet guidance needs, production will be sharply reduced from November, and average daily production in August will be lowered by 2 million barrels. The size of the production cut is equal to 2% of the average daily demand for oil in the world.
