Manama, August 3 (BNA) The Minister of Oil and Environment, and the Special Envoy for Climate Affairs, Dr. Muhammad bin Mubarak bin Dina, participated in the 31st meeting of OPEC Plus.
The meeting, which was chaired by the Saudi Minister of Energy, His Royal Highness Prince Abdulaziz bin Salman Al Saud, discussed a number of important topics related to oil prices in global markets.
Dr. Bin Dina congratulated Haitham Al Ghais on his appointment as Secretary General of the Organization of Petroleum Exporting Countries (OPEC).
He stressed the Kingdom of Bahrain’s keenness to participate in high-level meetings alongside decision-makers and officials in oil-producing and consuming countries, and to discuss ways to enhance cooperation and exchange ideas and experiences.
He pointed to cooperation from within OPEC or from producing countries outside the organization, which contributed greatly to the gradual restoration of the oil market’s balance.
He stressed support for the continuation of cooperation between producers and consumers to face challenges, find appropriate and positive solutions, and work together in maintaining the stability and sustainability of the oil market, for the benefit of producers and consumers alike and serving the global economy in general.
He highlighted the agreement to increase production by 100,000 barrels per day during the month of September, noting that the “OPEC +” group reduced production in May of 2020 by 9.7 million barrels per day due to the decline in demand for oil resulting from high oil prices. Global Covid-19 pandemic.
It was then agreed to increase oil production by 400,000 barrels per day during the months of May and June of 2022, and by 432,000 barrels per day in July 2022, and in August 2022 by 648,000 barrels per day.
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