Saudi Arabia affirms its commitment to the “OPEC +” agreement

In its meeting held on Tuesday, the Saudi Cabinet reaffirmed the Kingdom’s commitment to oil market stability and the OPEC+ agreement.

Russian news outlets stated that Russian President Vladimir Putin addressed the OPEC+ oil accord with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan in a phone call, and the two agreed to keep working together on global energy markets.

The Organization of Petroleum Exporting Countries, which is made up of key producers, will convene online tomorrow, Wednesday, to talk about oil production policies.

This comes as oil prices continue to rise, despite continuous upheaval in Europe and Russia’s ongoing war in Ukraine, and as nations around the world continue to impose more sanctions on Russia.