Saudi Arabia urged to stabilize the oil market

The government of Saudi Arabia has called all the major oil producers that do not participate in the transaction of OPEC , to take part in the stabilization of the market of hydrocarbons, said the report on the results of the weekly meeting of the Cabinet of Ministers on the social network Twitter.

The Saudi government indicated that the last meeting of OPEC Ministers and the producer countries of OPEC reaffirmed "the continuing commitment of countries to the desire to achieve stability of the market in such a way that would meet everyone's interests and would guarantee security of supply for consumers."

The new agreement, OPEC started in may with a two-month cut its oil production to 9.7 million barrels per day, June 6, it was extended for July. Further reduction will decrease to 7.7 million barrels per day for the period until the end of the year and 5.8 million by the end of April 2022. Base count taken October 2018, but for Russia and Saudi Arabia's 11 million barrels per day, from which by analogy is a decrease of 23%, 18% and 14% respectively. In this country, nedosypayuschie its obligations in may and June, has pledged to compensate in July-September.

Earlier, energy Minister of Saudi Arabia Prince Abdulaziz bin Salman said that Saudi Arabia, UAE and Kuwait and Oman, only in June cut production of oil in addition to its quota in OPEC , the total additional volume of some 1.2 million barrels per day.