Saudi Arabia to keep over complying with OPEC+oil cuts

Saudi Arabia’s new energy minister Prince Abdulaziz bin Salman says its October oil production would be 9.890 million barrels per day. (AFP pic)

ABU DHABI: Saudi Arabia’s new energy minister said on Thursday that the kingdom would continue to over comply voluntarily with oil output cuts agreed by the OPEC+ producer alliance.

Saudi Arabia’s October production would be 9.890 million barrels per day, Prince Abdulaziz bin Salman said after a meeting of ministers from the Organisation of the Petroleum Exporting Countries and its allies led by Russia.

Discussions on deeper cuts would be left to the next OPEC meeting, he said, adding that there was a clear readiness among OPEC and its allies to be responsive.

The group will discuss the impact of any easing of US sanctions on OPEC member Iran if and when that happens, he said.

Russian Energy Minister Alexander Novak said the group had discussed and expressed concerns about slowing economic growth.