Saudi Energy Minister Khalid Falih and US Secretary of Energy Rick Perry discussed the situation in the oil market following the renewal of the oil output cut deal between members of the Organisation of the Petroleum Exporting Countries (OPEC) and other oil producing countries, the Saudi official said on Monday.
DOHA (Pakistan Point News / Sputnik - 10th December, 2018) Saudi Energy Minister Khalid Falih and US Secretary of Energy Rick Perry discussed the situation in the oil market following the renewal of the oil output cut deal between members of the Organisation of the Petroleum Exporting Countries (OPEC) and other oil producing countries, the Saudi official said on Monday.On Friday, participants of the OPEC-non-OPEC oil output cut deal agreed to reduce overall production by 1.2 million barrels per day starting from the next year, with a view to signing the charter on future long-term cooperation in the first quarter of 2019. OPEC member states will cut production by 800,000 barrels per day and non-OPEC countries by 400,000 barrels per day.
"We discussed the situation in the oil market as Saudi Arabia always wants to assist in stabilizing markets," Falih wrote on his Twitter page.
Last week, Perry visited Qatar, where he discussed the country's decision to withdraw from OPEC with officials.
