Manama, Dec. 5 (BNA): Minister of Oil and Environment, Special Envoy for Climate Affairs, Dr. Muhammad bin Mubarak bin Dinah, participated in the OPEC and OPEC Plus meeting, which was held virtually with the participation of the energy and oil ministers from the State of Kuwait. Member States.
The meeting was held online to discuss the approved oil production policy and the possibility of controlling production in addition to other major issues related to this vital sector.
The minister pointed out the importance of these meetings to discuss controlling the current levels of oil production in order to support market stability amid the geopolitical and economic challenges and difficulties the world is going through. He stressed support for continuous cooperation between producers and consumers to face courageous challenges and find appropriate solutions to maintain the stability and sustainability of the oil market and serve the global economy.
Dr. Bin Dinah stated that it was agreed at the meeting to keep the oil production policy unchanged and to adjust the frequency of the meetings to two months instead of one month in order to support the stability of the markets.
He pointed out that the OPEC Plus group agreed at a meeting last month to reduce oil production by two million barrels per day, starting from November 2022 until the end of 2023.
AOQ