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OPEC+ oil output deal could be adjusted through consensus, says Saudi energy minister

Source: Argaam

The OPEC+ deal on oil output cuts can be adjusted in there is consensus among the member countries, Reuters reported, citing Saudi Arabia’s energy minister Prince Abdulaziz bin Salman.

The minister said that changes may beat analyst forecasts, despite the resumption of the Libyan oil production and renewal of lockdown measures that are aimed to curb a second wave of COVID-19 in some countries.

“The market is still stable,” he noted.

Prince Abdulaziz also expects the impact of new lockdown measures and restrictions on demand for fuel to be less severe than in April.

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