Opec+ agreement ‘essential’ for oil market stability, Saudi Arabia’s King Salman says – The National

Opec+ agreement ‘essential’ for oil market stability, Saudi Arabia’s King Salman says – The National

Saudi Arabia’s King Salman said the Opec+ production agreement was “essential” for oil market stability and urged all participating countries to comply with the pact.

In an annual speech to Saudi Arabia’s advisory Shura Council on Wednesday, King Salman said oil market stability and balance are pillars of Saudi energy policy as oil supports the growth of the global economy.

The kingdom is “keen to continue working with the Opec+ agreement, for its essential role in stabilising the oil markets and also stresses the importance of compliance by all participating countries with the agreement”, he said in a speech published by state news agency SPA.