The global oil supply needs to be increased to cool down the prices
Saudi Arabia supports 'affordable price' for energy
Energy minister says the oil-rich kingdom has stressed the importance of ensuring affordable price for energy at the G20 meeting in Italy.
Monday 01/11/2021
The global oil supply needs to be increased to cool down the prices
DUBAI - Saudi Arabia has stressed the importance of ensuring affordable price for energy at the G20 meeting in Italy, the state-run Saudi Press Agency reported.
The agency cited comments made on Sunday by Energy Minister Abdulaziz bin Salman Al Saud.
Kuwait's oil minister Mohammad Abdulatif al-Fares said on Monday his country supports the plan to increase global oil supply which has been already agreed by OPEC+, the group formed by the Organisation of Petroleum Exporting Countries and its allies, according to state news agency KUNA.
The plan, which provides for a monthly increase of 400,000 barrels per day, ensures adequate crude supply to balance the global market, said Fares.