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OPEC+ decisions facilitate stabilization of global energy markets — Kremlin

Dmitry Peskov underlined that "all decisions that are taken, are a product of a consensus, common agreements"

MOSCOW, June 3. /TASS/. Decisions in the OPEC+ format are taken in consensus and serve for stabilization of global energy markets, Kremlin Spokesman Dmitry Peskov told reporters.

"We actively participate in this dialogue. We assume a very responsible attitude. We appreciate our cooperation with partners on this dialogue. Obviously, all decisions that are taken, are a product of a consensus, common agreements. We believe that this is a very important format and very important agreements that facilitate stabilization, predictability of global energy markets," he said.

On June 2, eight OPEC+ nations (Algeria, Iraq, Kuwait, Saudi Arabia, Russia, the UAE, Kazakhstan and Oman) extended voluntary crude output reductions of 1.66 mln barrels per day until the end of 2025, while cuts in the amount of 2.2 mln barrels per day introduced later were extended until this October. The next ministerial meeting of OPEC+ will take place on December 1.

OPEC+ ministerial meetings are held once in six months. The latest such meeting was held on November 30 in the online format. The meeting in June was initially scheduled for June 1 in Vienna but it was postponed to June 2 with the change to the videoconference format.

Tags

Foreign policy Dmitry Peskov OPEC

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