(Riyadh) Saudi Arabia confirmed its commitment to the OPEC+ alliance with Russia on Sunday during a meeting between Crown Prince Mohammed bin Salman and French President Emmanuel Macron, the official Saudi Press Agency reported ( SPA).
Updated yesterday at 6:59 p.m.
OPEC+ brings together the thirteen members of the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, and their ten partners led by Russia.
“During the contact, the situation in Ukraine and the impact of the crisis on the energy markets were also discussed, and in this regard, His Highness the Crown Prince underlined the kingdom’s desire to stabilize and to balance oil markets and the kingdom’s commitment to the OPEC deal,” the agency says.
A teleconference will be held between the 23 members of the OPEC+ group on Wednesday to discuss a possible increase in production, just days after Russia’s invasion of Ukraine, which sent the price of crude above $100 a barrel.