Saudi Foreign Minister Prince Faisal bin Farhan Al Saud responded today, Tuesday, to reports of disagreements among OPEC+ member countries, stating that the oil production decisions made by the coalition reflect internal consensus. He downplayed the importance of a Wall Street Journal report suggesting a rift between Saudi Arabia and the UAE over several issues, including OPEC and Yemen, and indicated that the UAE is considering leaving the Organization of the Petroleum Exporting Countries (OPEC).
In comments to reporters in London, he said, "All decisions in OPEC and OPEC+ are made through very intense dialogue among all partners… Every statement I see from all partners in OPEC+ reflects that consensus." He added, "We have a very strong partnership between the UAE and the Kingdom. Do we agree on everything all the time? Probably not. But reports of disagreements, which are often exaggerated and usually based on unnamed sources, do not realize the depth of the relationship."
The Saudi minister affirmed his country's commitment to "a stable market," noting that Saudi Energy Minister Prince Abdulaziz bin Salman believes that the market does not need changes in production until the end of the year.
