Energy

Saudi Arabia says no room for OPEC+ non-compliance

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Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020.

Saudi Press Agency | Reuters

OPEC kingpin Saudi Arabia and non-OPEC leader Russia said Monday that the success of the energy alliance’s latest production cuts relies on all members complying with the terms of the deal.

The statement comes shortly after OPEC and non-OPEC allies, known as OPEC+, agreed to extend its deepest round of production cuts in history to take roughly 10% of oil supplies off the market through to the end of next…



Source cnbc.com

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