OPEC+ remains pro-active to balance oil market

In the face of uncertainties, the OPEC+ alliance has no choice but to remain vigilant. That statement was made by Prince Abdulaziz bin Salman Al Saud, Saudi Arabia's energy minister, in an interview with the Saudi Press Agency (SPA). The prince added the current situation remains difficult for the organization, as the market is overreacting to news.

Al Saud added that there had been many ill-considered interventions in the energy markets during this time.

Nevertheless, the minister said that thanks to OPEC+'s ability to objectively assess markets, the organization's proactive approach and cohesion would contribute to a more stable market.

Al Saud said that the influence of politics on any decisions, assessments or forecasts in OPEC+ was completely excluded. The focus of the organization is solely on the market sector.

The prince noted that this approach made it possible to assess the situation more objectively. This, in turn, also increases the credibility of the organization.