Saudi Arabia's Minister of Energy Abdulaziz bin Salman speaks during a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting in Vienna, Austria, on Oct. 5, 2022. - VLADIMIR SIMICEK/AFP via Getty Images
October 17, 2022
Several Middle Eastern member states of the Organization of the Petroleum Exporting Countries (OPEC) issued statements yesterday defending their recent decision to cut oil production. The United Arab Emirates' energy minister said that the move was not motivated by politics.
“I would like to clarify that the latest OPEC+ decision, which was unanimously approved, was a pure technical decision, with NO political intentions whatsoever,” tweeted Suhail Mohamed AlMazrouei.
Iraq’s State Organization for Marketing Oil also released a statement reading that OPEC+ decisions are “based on economic indicators.” READ MORE...
Several Middle Eastern member states of the Organization of the Petroleum Exporting Countries (OPEC) issued statements yesterday defending their recent decision to cut oil production. The United Arab Emirates' energy minister said that the move was not motivated by politics.
“I would like to clarify that the latest OPEC+ decision, which was unanimously approved, was a pure technical decision, with NO political intentions whatsoever,” tweeted Suhail Mohamed AlMazrouei.
Iraq’s State Organization for Marketing Oil also released a statement reading that OPEC+ decisions are “based on economic indicators.” READ MORE...
