Nov 25 (Reuters) – The energy ministers of Saudi Arabia and Iraq met on Thursday and stressed the importance of meeting OPEC+ production cuts that last until the end of 2023, the Saudi energy ministry said in a statement on Friday.
Iraqi Energy Minister Hayan Abdel-Ghani met Saudi Energy Minister Prince Abdulaziz bin Salman during a visit to the kingdom which began on Wednesday.
Both sides also stressed “the ability to take additional steps, if necessary, to achieve market balance and stability,” according to the statement.
OPEC+, an alliance of members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, will then meet on December 4 in Vienna.
At its last meeting on October 5, a production cut of 2 million barrels per day was agreed.
Prince Abdulaziz said earlier this week that the group remained ready to take further action if necessary to balance supply and demand.
Reporting by Maha El Dahan, writing by Moaz Abd-Alaziz; Editing by Muralikumar Anantharaman and Kim Coghill
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