VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

photo : reuters

Saudi Arabia's Energy Minister, Khalid A. Al-Falih said on Wednesday (15/7) that OPEC+ was moving to the next phase of its oil cut pact when the group is expected to ease their reductions as oil demand recovers. As quoted by Reuters (15/7), Prince Abdulaziz bin Salman also said that effective oil cuts will be deeper than 7.7 million barrels per day, thanks to a compensation plan by countries which overproduced in previous months. The prince, speaking ahead of a meeting of a key ministerial panel of OPEC+, said that there will be no increase in Saudi oil exports in August as the additional barrels will be consumed locally//Reuters