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Saudi Energy Minister: Postponing OPEC+ Meetings Aims to Gain Time, Review Matters

Saudi Energy Minister: Postponing OPEC+ Meetings Aims to Gain Time, Review Matters

Tuesday, 30 November, 2021 - 12:15
Saudi Energy Minister Prince Abdulaziz bin Salman. (SPA)

Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday that the technical meeting of the OPEC + group has been postponed to Wednesday evening “to gain time to review matters.”


He described the World Health Organization’s warning on the new coronavirus variant, Omicron, as “exaggerated”, expressing his belief that the postponement, even for a limited stage, would give an opportunity for further study in a better way.


“We are not worried about [the impact] of Omicron [on the markets],” the minister asserted.


Prince Abdulaziz refused to comment on the plans of OPEC+ before its scheduled meeting. The group, which includes the Organization of the Petroleum Exporting Countries (OPEC) and its allies, held online meetings this week to determine production policy.


A video conference of the Joint Ministerial Committee was scheduled for this Tuesday, but was postponed to Thursday, which falls on the same date as the OPEC+ ministerial meeting.


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