OPEC+ Oil Production Cuts Can Continue Past March If Needed, Saudi Prince Says
- Curbs only phased out after consideration of market conditions
- Prince trusts Moscow, Abu Dhabi are fulfilling their pledges
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The OPEC+ oil production cuts can “absolutely” continue past the first quarter if needed, Saudi Energy Minister Prince Abdulaziz bin Salman said, as he pledged the curbs would be delivered in full.
The supply reductions announced last week of more than 2 million barrels a day — about half of which are coming from Saudi Arabia — will only be withdrawn after consideration of market conditions and using a “phased-in approach,” he said.