Saudi Arabia and Equatorial Guinea support working to reduce OPEC and non-OPEC oil production

  • 2/5/2023
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Jeddah, Sha'ban 15, 1438, May 11, 2017, SPA -- President Teodoro Obiang Nguema Mbasogo of the Republic of Equatorial Guinea received at his guest residence in Jeddah today Eng. Abdulrahman bin Abdulmohsen Al-Fadhli, minister of environment, water and agriculture. During the meeting, the two sides discussed fields of cooperation on energy affairs between the two countries through restoring equelibrium of oil markets in convergence with a number of producers as part of a general arrangement, which was signed in last December, to reduce oil production among OPEC and non-OPEC. The two countries expressed support for another six-month extension or more for the oil storage to shore up to their historic commercial levels. The Kingdom also lent its support for Equatorial Guinea's joining OPEC, describing Equatorial Guinea as yet another factor of stability of the oil markets. The meeting was attended by several officials. --SPA 01:42 LOCAL TIME 22:42 GMT www.spa.gov.sa/w398972

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