Saudi Arabia and Russia seek 'full conformity' from Opec+ producers

Saudi Arabia and Russia seek 'full conformity' from Opec+ producers

Saudi Arabia and Russia, the leaders of the alliance undertaking crude oil supply adjustments, said they aim for “full conformity” from all members of the super-group, as they convened for a ministerial monitoring committee meeting in Abu Dhabi, The National reports.

“We want to achieve a high degree of cohesiveness with our partners,” Prince Abdulaziz bin Salman Al Saud said ahead of his first Opec+ meeting as Saudi Arabia’s energy minister.

"I want to underscore our inclusiveness and ... every country needs to develop and pull its own weight regardless of sheer size of its contribution,” he said.

The Saudi minister’s comments were also echoed by his Russian counterpart Alexander Novak, who said the alliance had demonstrated “the ability to react” to changing market conditions.

"We have also said that the goal of our co-operation is to restore balance and ensure predictability of the market, and we are determined to realise our ultimate goal of ensuring full conformity by all members,” he said.

"We want to continue to further strengthen our solidarity.”

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