OPEC+ works on purely economic basis, does not intervene in politics: Saudi minister

11/12/2022 Argaam
Energy Minister PrinceAbdulaziz bin Salman

Energy Minister Prince Abdulaziz bin Salman

Saudi Energy Minister Prince Abdulaziz bin Salman said OPEC+ works on a purely economic basis, as it does not intervene in political issues or alliances.

 

There is no intention for a quality shift unless based on market perspective and the economic aspect.

 

This is evidenced in the OPEC+ meeting held on Oct. 5, and the measures taken from August, Prince Abdulaziz added during the Budget Forum 2023 today, Dec. 11.

 

OPEC+ will continue to work on an economic prospective only, Prince Abdulaziz affirmed, adding that its previous and future decisions to balance markets will take into account the available data and what is expected from the OPEC and non-OPEC allies.

 

Despite all pressures witnessed by OPEC+ in the last quarter, the minister said the group will not change the way it takes decisions and actions, as it is keen to maintain the market balance.  

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