Riyadh and Moscow reaffirm their commitment to the OPEC+ agreement limiting oil production

MOSCOW, March 16 (Reuters) – Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman and Russian Deputy Prime Minister Alexander Novak reiterated their support for OPEC+’s decision to cut global oil production by 2 million barrels a day, according to the Russian government’s website.

“The parties underlined the commitment of both countries to the basis taken by OPEC+ in October last year to strengthen the balance and stability of the global oil market,” reads the communiqué.

Prince Abdulaziz and Novak addressed the issues of cooperation between the two countries in the field of oil and gas, including the achievement of the goals of maintaining market stability and restoring the balance of oil supply and demand in the world market, the government announced.

The meeting of the OPEC+ monitoring committee will take place in early April, the ministerial meeting in June.

(Olesya Astakhova)