Saudi Arabia says OPEC+ moving to easing oil cuts on demand recovery – ZAWYA

Saudi Arabia says OPEC+ moving to easing oil cuts on demand recovery – ZAWYA

saudi arabia says opec+ moving to easing oil cuts on demand recovery effective oil cuts will be deeper than 7.7mln barrels per day, says energy minister    saudi arabia's energy minister prince abdulaziz bin salman arrives at the opec headquarters in vienna, austria, dec. 5, 2019. dubai- saudi arabia's energy minister said on wednesday that opec+ was moving to the next phase of its oil cut pact when the group is expected to ease their reductions as oil demand recovers.prince abdulaziz bin salman also said that effective oil cuts will be deeper than 7.7 million barrels per day, thanks to a compensation plan by countries which overproduced in previous months.the prince, speaking ahead of a meeting of a key ministerial panel of opec+, said there will be no increase in saudi oil exports in august as the additional barrels will be consumed locally.(reporting by reuters opec team; writing by rania el gamal, editing by louise heavens) (([email protected]; +971 562 160 434; reuters messaging: [email protected] ; twitter: @raniaelgamal10)) most read stock market datadubai fm 2,052.67175,945,952(0.22% )abu dhabi se 4,274.4641,454,279(1.26% )saudi se 7,426.76272,741,006(0.12% )egypt se 10,441.200(-1.66% )most active stocks moreour privacy statement & cookie policythis website uses cookies to improve your online