Manama, October 16 (BNA) The Minister of Oil and Environment, and Special Envoy for Climate Affairs, Dr. Muhammad bin Mubarak bin Dina, confirmed that the decision of OPEC and OPEC + to reduce oil production by 2 million barrels per day, starting from this November, was taken unanimously by all member states, and after A comprehensive technical study specialized in the conditions and developments of global markets.
The minister stressed the importance of the agreement concluded during the last meeting of OPEC and OPEC + in strengthening markets in a way that would have a positive impact on the global economy in general, adding that the decision was taken based on purely economic considerations. The results of the study conducted by the technical team of OPEC on the reality of supply and demand in the global oil market.
The Minister of Oil and Environment affirmed the member states’ keenness to take decisions aimed at stabilizing oil markets, indicating that any economic developments will be studied during the upcoming meetings to ensure the stability of global markets and supplies, as well as the balance among member states. interests of producers and consumers.
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