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Saudi Arabia to cut oil output for as long as needed for market

Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said the kingdom would continue reducing output by the end of 2023

MOSCOW, October 12. /TASS/. Saudi Arabia’s voluntary crude output reduction will persist for as long as it is necessary for maintaining the market stability, the country’s Energy Minister Prince Abdulaziz bin Salman said in an interview aired by the Rossiya-24 TV news channel.

"We will continue reducing output by the end of the year. We will revise whether we will deepen the reduction or boost oil output, each month as was said earlier. Probably for another month, two, four, five, for as long as needed for enabling us to guarantee that we act properly to ensure the stability of the market," he said.

Saudi Arabian Energy Minister Prince Abdulaziz bin Salman is participating in the Russian Energy Week (REW).

The meeting of the Russian-Saudi intergovernmental commission with his participation has also taken place as part of the REW.

TASS acts as an information partner of the Russian Energy Week.

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