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OPEC Flexible Enough To Adjust Policy If Needed: Saudi Energy Minister

OIL

OPEC remains flexible and can alter its oil-production strategy if market conditions change, according to Saudi Arabia’s energy minister Prince Abdulaziz bin Salman.

  • “We are flexible enough to adjust OPEC decisions if needed,” Prince Abdulaziz bin Salman said.
  • He reiterated that the group’s policies are determined by technical studies of market balances and that politics are excluded.
  • Last week, the minister said OPEC+ will stick to its current production quotas for the rest of 2023.

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