CAIRO, March 15 ― Saudi Arabia’s energy minister Prince Abdulaziz bin Salman told Energy Intelligence in an interview yesterday the Opec+ alliance will stick until the end of the year to production cuts agreed in October.
Prince Abdulaziz also said the US Senate's proposed NOPEC bill was a different concept from price caps that have been imposed by Western countries on Moscow over the invasion of Ukraine, yet they had similar potential impacts on the oil market. The NOPEC bill would undermine investments in oil capacity and cause global supply to fall, he said and any price caps would have a similar effect.
“If a price cap were to be imposed on Saudi oil exports, we will not sell oil to any country that imposes a price cap on our supply and we will reduce oil production and I would not be surprised if others do the same.”
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