OPEC+ members urge other countries to join alliance

OPEC+ producing countries are calling on others to join the alliance, including consumers, Report informs referring to Interfax.

As UAE Energy Minister Suhail Mohammed Faraj Al Mazroui said during the OPEC seminar, Saudi Arabia announced a voluntary reduction in oil production not for itself and the OPEC+ countries, but for the entire oil market.

He noted that the demand for hydrocarbons is increasing, and it is still far from the demand plateau that they talk about - the demand for oil is growing, but there is not enough investment.

In turn, the president of the OPEC conference this year, Minister of Mining and Hydrocarbons of Equatorial Guinea Antonio Oburu Ondo, said that an increase in the number of OPEC+ participants would add transparency and predictability to the market.