Riyadh – Mubasher: The Saudi energy minister on Wednesday said it is difficult now to decide on the extension of a deal, known as ‘OPEC+’, reached by the Petroleum Exporting Countries (OPEC) allied oil producers to cut oil supplies.
OPEC and non-OPEC members are collaborating to strike balance in the oil market, Reuters reported, citing Khalid Al Falih.
“All the outlooks that we have seen tell us that we will need to continue to moderate production in the second half of this year but you never know, those forecasts are based on certain assumptions,” the Saudi minister added.
The Saudi-led OPEC and non-OPEC producers agreed late last year to curb supply by 1.2 million barrels per day (bpd) as from the start of this year for six months. OPEC+ is due to meet in April to discuss its production policy.
