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Saudi, Russia, Kazakhstan urge commitment to OPEC+ voluntary cuts, SPA reports
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Saudi, Russia, Kazakhstan urge commitment to OPEC+ voluntary cuts, SPA reports
Nov 27, 2024 6:08 AM

DUBAI, Nov 27 (Reuters) - Saudi Arabia, Russia and

Kazakhstan stressed on Wednesday the importance of full

commitment to the voluntary oil production cuts agreed by the

Organization of the Petroleum Exporting Countries and their

allies, the Saudi state news agency reported.

OPEC+ members are discussing a further delay to a planned

oil output hike that was due to start in January, two sources

from the producer group told Reuters on Tuesday, ahead of

Sunday's meeting to decide policy for the early months of 2025.

The remarks follow a meeting on phone held by Saudi Arabian

Energy Minister Prince Abdulaziz bin Salman, Kazakh Energy

Minister Almasadam Satkaliyev, and Russian Deputy Prime Minister

Alexander Novak, who is on an official visit to Kazakhstan, SPA

said.

"They also stressed the importance of cooperation among

OPEC+ member countries and full adherence to the agreement,

including the voluntary production cuts agreed upon by the eight

participating countries, as well as compensating for any excess

production," SPA reported.

On Tuesday, Prince Abdulaziz and Novak met with Iraqi

Prime Minister Mohammed Shia al-Sudani in Baghdad to discuss the

conditions of global energy markets and matters related to the

production of crude oil, its flow to markets and meeting demand,

Iraq's prime minister's office said.

Saudi Arabia's energy ministry said the three nations

emphasised the importance of fully committing to the OPEC+ oil

supply agreement, including voluntary production cuts agreed by

eight member states and measures to compensate for any increases

in production.

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