Arab countries plead for status quo in OPEC+ production


RIYADH (Reuters) – The oil and energy ministers of several Arab countries, including the United Arab Emirates, Saudi Arabia, Iraq and Kuwait, said on Sunday that OPEC and its allies should stick to their current agreement of a production increase of 400,000 barrels per day each month.

Iraqi Oil Minister Ihsan Abdul Jabbar stressed that for the “benefit of the entire energy market”, the Organization of the Petroleum Exporting Countries and its allies, led by Russia, should for the time being stick to this goal.

According to the United Arab Emirates, it is geopolitical tensions that are driving up crude prices and not supply and demand.

The barrel of Brent closed on Friday at 93.5 dollars.

(Aziz El Yaakoubi report; written by Enas Alashray; French version Claude Chendjou)



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