Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq A-Awsat

Saudi Energy Minister Says OPEC+ Deal Will Continue Until End of Year

The Saudi Energy Minister speaks at the 13th IEA-IEF-OPEC Symposium on Energy Outlooks in Riyadh on February 15, 2023

Saudi Energy Minister Prince Abdulaziz bin Salman said the current OPEC+ deal on oil output would be locked in until the end of the year.

In an interview published by Energy Aspects, the minister said the oil group can't increase output based solely on initial signals.

OPEC+ agreed in October to cut oil production targets by 2 million barrels per day (bpd) until the end of 2023.

"The agreement that we struck in October is here to stay for the rest of the year. Period," he said.

OPEC raised its 2023 global oil demand growth forecast this week on the back of China relaxing COVID restrictions but Prince Abdulaziz said that more assurances were needed.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.