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Crown Prince renewed willingness to extend oil output cut deal
(MENAFN) Crown Prince Mohammed bin Salman confirmed on Saturday Saudi Arabia's willingness to support the extension of a global oil production cut agreement.
The crown prince stated, "The Kingdom affirms its readiness to extend the production cut agreement, which proved its feasibility by rebalancing supply and demand".
"The high demand for oil has absorbed the increase in shale oil production ", the Prince added.
Since January, OPEC and other major oil producers have cut output by about 1.8 million barrels per day.
The crown prince stated, "The Kingdom affirms its readiness to extend the production cut agreement, which proved its feasibility by rebalancing supply and demand".
"The high demand for oil has absorbed the increase in shale oil production ", the Prince added.
Since January, OPEC and other major oil producers have cut output by about 1.8 million barrels per day.
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