|12 September, 2019

Saudi Arabia says it will keep overcomplying with OPEC+ oil cuts

Saudi Arabia's October production would be 9.890 million barrels per day, Prince Abdulaziz bin Salman said

Saudi Arabia's new Energy Minister, Prince Abdulaziz bin Salman takes a tour at the exhibition during the 24th World Energy Congress in Abu Dhabi, United Arab Emirates September 9, 2019. REUTERS/Satish Kumar

Saudi Arabia's new Energy Minister, Prince Abdulaziz bin Salman takes a tour at the exhibition during the 24th World Energy Congress in Abu Dhabi, United Arab Emirates September 9, 2019. REUTERS/Satish Kumar

Satish Kumar

ABU DHABI - Saudi Arabia's new energy minister said on Thursday that the kingdom would continue to overcomply voluntarily with oil output cuts agreed by the OPEC+ producer alliance.

Saudi Arabia's October production would be 9.890 million barrels per day, Prince Abdulaziz bin Salman said after a meeting of ministers from the Organization of the Petroleum Exporting Countries and its allies led by Russia.

Discussions on deeper cuts would be left to the next OPEC meeting, he said, adding that there was a clear readiness among OPEC and its allies to be responsive.

The group will discuss the impact of any easing of U.S. sanctions on OPEC member Iran if and when that happens, he said.

Russian Energy Minister Alexander Novak said the group had discussed and expressed concerns about slowing economic growth.

(Reporting by Reuters OPEC Team, Writing by Nafisa Eltahir; Editing by Dale Hudson) ((Nafisa.Eltahir@thomsonreuters.com; +20 109 4966 335;))

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