Saudi Arabia's energy minister Prince Abdulaziz bin Salman Al-Saud waits his turn to speak at the COP26 U.N. Climate Summit, in Glasgow, Scotland, in November 2021.
OPEC+ includes the countries that make up the Organization of the Petroleum Exporting Countries, along with Russia and other allied producers. On Sept. 5, Saudi Arabia and Russia extended voluntary supply cuts of a combined 1.3 million barrels of oil per day to year-end. The cuts will mean a substantial market deficit through the fourth quarter, the International Energy Agency said on Wednesday."It's always better to go by my motto, which is, 'I believe it when I see it.' When reality comes around as it's been forecast, Hallelujah, we can produce more.""They have moved from being a forecaster and assessor of the market to one practicing political advocacy," he said.
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