Saudi energy minister denies output increase discussion

Saudi energy minister denies output increase discussion

Saudi Arabian energy minister Prince Abdulaziz bin Salman said the kingdom is not discussing a potential oil output increase with other OPEC oil producers, state news agency SPA reported, denying a Wall Street Journal report earlier on Monday.

"It is well-known that OPEC+ does not discuss any decisions ahead of the meeting," the prince was quoted as saying, referring to the group's next meeting in December.

"The current cut of 2 million barrels per day by OPEC+ continues until the end of 2023 and if there is need to take further measures by reducing production to balance supply and demand we always remain ready to intervene."

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