OPEC Members Line Up to Back Oil Production Cut After US Claims Against Saudi Arabia

[Epoch-Times-Bot]

OPEC Members Line Up to Back Oil Production Cut After US Claims Against Saudi Arabia

OPEC+ member states lined up on Sunday to endorse a steep production cut agreed upon earlier this month following accusations from top Biden administration officials against the Saudi government.
Iraq, the second largest producer in OPEC, said the move was based on economic indicators and done unanimously.
“There is complete consensus among OPEC+ countries that the best approach in dealing with the oil market conditions during the current period of uncertainty and lack of clarity is a pre-emptive approach that supports market stability and provides the future the guidance it needs,” Iraq’s state oil agency said in a statement.
Oman and Bahrain also said in separate statements that OPEC+ had been unanimous in deciding on the 2 million barrels per day reduction several weeks ago. Algeria’s energy minister called the Oct. 5 decision “historic” and he and OPEC Secretary General Haitham Al Ghais, currently visiting Algeria, expressed their full confidence in it, Algeria’s Ennahar TV reported....

Source: OPEC Members Line Up to Back Oil Production Cut After US Claims Against Saudi Arabia

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