Saudi Energy Minister Prince Abdulaziz bin Salman defended on Monday OPEC+ cuts to oil market supplies, saying international energy markets need light-handed regulation to limit volatility
"Saudi Arabia will extend the voluntary cut of one million barrels per day. for another month to include the month of September," the energy ministry said in a statement.
Prince Abdulaziz made the remarks while chairing the meeting of the roundtable on Green and Low-Carbon Hydrogen held in India, with the participation of India's Minister of Power and Renewable Energy Raj Kumar Singh.
French Energy Transition Minister Agnès Pannier-Runacher said that energy is at the heart of the bilateral relationship between France and Saudi Arabia
At an in-person Opec+ meeting at the group’s headquarters in Vienna on Sunday, Riyadh announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.