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Saudi Arabia's readiness to supportoil output cut deal
(MENAFN)Crown Prince Mohammed bin Salman on Saturday confirmed that Saudi Arabia is ready to support the extension of a global oil production cut agreement.
"The Kingdom affirms its readiness to extend the production cut agreement, which proved its feasibility by re-balancing supply and demand," the crown prince stated.
"The high demand for oil has absorbed the increase in shale oil production," the crown prince then added.
He made similar comments to Reuters in an interview published on Thursday about the role the Kingdom is going to play in the extension of the oil deal and the situation of the market.
"The Kingdom affirms its readiness to extend the production cut agreement, which proved its feasibility by re-balancing supply and demand," the crown prince stated.
"The high demand for oil has absorbed the increase in shale oil production," the crown prince then added.
He made similar comments to Reuters in an interview published on Thursday about the role the Kingdom is going to play in the extension of the oil deal and the situation of the market.
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