Energy Minister: Countries Participating in Oil Production Cuts Pact Have Shown High Commitment 3 Jeddah

  • 2/5/2023
  • 11:00
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For his part, Russian Energy Minister Alexander Novak stressed the commitment of the oil-producing countries to the decision of OPEC over the past months and the need to continue the successful work to achieve the objectives of ensuring the recovery of oil prices together. During the press conference, he talked about a number of issues, including the current situation of oil market, the "historical cooperation" declaration and the development of relationship between OPEC and Russia. On the other hand, the UAE Minister of Energy Suhail Al Mazrouei praised his country's full commitment to the oil production cuts pact inside and outside OPEC to overcome the challenges and enhance cooperation in the balance of market prices during the current year, hailing the cooperation of other countries in this context. At the conclusion of the press conference, he said that there are new mechanisms for developing joint cooperation among oil producers before the expanded meeting set to be held in Vienna in next June. --SPA 01:32 LOCAL TIME 22:32 GMT www.spa.gov.sa/w673398

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