Saudi energy minister says Opec+ supply pact needs to be extended

LONDON (REUTERS) – Saudi Arabia’s energy minister said on Sunday (July 4) that an Opec+ global oil supply pact due to end in April 2022 should continue for longer, Saudi-owned Asharq television reported.

Prince Abdulaziz bin Salman’s remarks came after the United Arab Emirates suggested deferring a decision by the group on extending the deal.

Asharq also quoted the prince as saying there should be an increase in production to meet an expected decline in oil supply during the summer period.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Source: Read Full Article