Saudi minister urges caution on oil production levels

Saudi Arabia gatherings pandemic Waves

01.04.2021 - 16:50

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FRANKFURT – Saudi Arabia's energy minister took a cautious view of any increase in oil production as members of the OPEC cartel met Thursday with allied non-member countries to decide production levels.

Speaking ahead of the meeting, Abulaziz bin Salman said the approach taken at the alliance's gathering last month to leave production levels largely unchanged had been correct, given the ongoing uncertainty about the course of the COVID-19 pandemic. “Unfortunately, we have been proved right by subsequent developments," he said.

The OPEC meeting with non-members — dubbed OPEC Plus — has decided to meet monthly to review the production cuts of just over 7 million barrels per day imposed to restrain the decline in oil prices due to the

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Saudi minister urges caution on oil production levels

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