China News Agency, Beijing, October 17th. Comprehensive news: On October 16th, local time, the members of the "OPEC+" mechanism expressed their support for the decision to significantly reduce oil production earlier this month, and said that the move was to maintain the stability of the oil market. with balance.
Iraq's State Oil Marketing Organization (SOMO) issued a statement on the 16th, saying that "OPEC+"'s decision to cut its average daily oil production by 2 million barrels was based on market conditions.
The decision is an important step in the right direction to achieve market stability, given the current economic situation, the statement said.
Kuwait’s official news agency (KUNA) reported on the 16th that the CEO of Kuwait Petroleum Company (KPC) also welcomed the “OPEC+” decision to cut production, saying that the decision was aimed at maintaining the balance and stability of the oil market, and stressed that Kuwait Passionate about keeping the oil market balanced for the interests of producers and consumers.
Algeria's energy minister called it a "historic" decision and expressed confidence in the decision, Algerian TV Ennahar reported.
According to Reuters, since the "OPEC+" mechanism made up of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers decided on the 5th of this month to significantly reduce oil production, the United States has accused the decision of making the decision for political reasons. It also said that Saudi Arabia forced other countries to support oil production cuts.
On the 16th local time, King Salman of Saudi Arabia said that Saudi Arabia is working hard to maintain the stability and balance of the oil market, including the establishment and maintenance of the "OPEC+" alliance agreement.
Saudi Defense Minister Khalid bin Salman also said that despite the tight oil market, the decision to cut production was a unanimous decision based on economic factors.
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