UAE Energy and Infrastructure Minister Suhail Al Mazroui said the decision by OPEC+ countries in Vienna to cut oil production was a purely technical decision, not a political one.
"I would like to clarify that the latest OPEC+ decision, which was unanimously approved, was a purely technical decision with absolutely no political motivation," he wrote on Twitter on Sunday.
At a face-to-face meeting in Vienna on October 5, OPEC+ member states agreed to cut oil production by 2 million barrels per day (bpd) starting in November, and extended the deal through the end of 2023. It is expected that Russia and Saudi Arabia will be able to reduce oil production by 526,000 bpd each compared to August, up to 10.478 million bpd. The total level of oil production of the alliance countries will be 41.856 mln bpd.
The White House said the OPEC+ decision demonstrates that Saudi Arabia is aligning its energy policy with Russia. US President Joe Biden spoke in favor of the need to review relations between Washington and Riyadh.
Russian President Vladimir Putin said that the OPEC+ countries' decision to reduce production was aimed at balancing the global market.
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Based on materials from TASS