The OPEC+group’s recent decision and the conversations that surrounded it are being closely followed and supported, according to the Egyptian Ministry of Foreign Affairs.
In this regard, the Egyptian Ministry of Foreign Affairs reiterates its support for the position taken by the Kingdom of Saudi Arabia in outlining the technical factors of the OPEC+decision, as it primarily seeks to achieve market discipline for oil and to ensure an improvement in the ability of the international community to address the current economic challenges.
The Saudi Ministry of Foreign Affairs previously declared that the Kingdom does not accept any form of orders and rejects any measures intended to change its efforts to safeguard the world economy.
According to Riyadh, the government of the Kingdom of Saudi Arabia reviewed the criticisms levelled at the country after the “OPEC+” decision was announced on October 5, 2022. These criticisms included claims that the decision favoured the Kingdom in international disputes and that it was motivated by political animosity toward the United States of America.
The government of the Kingdom of Saudi Arabia further stated that it “would like the beginning of the expression of its complete rejection of these statements that are not based on the facts and depend on its basis on trying to photograph OPEC + outside of its pure economic framework, a decision that was made at the level of OPEC + by all member nations.
The Kingdom emphasises that the outcomes of OPEC meetings + are adopted through collective agreement from member states, and a state is not unique without the other member states, and from a purely economic perspective that takes into account the balance of supply and demand in the petroleum markets and limits the fluctuations that do not serve the interests of Producers and consumers alike, which is what the OPEC +group has been on.
It reported that the “OPEC +” group makes its decisions independently, according to the customary practices of international organizations.
The seventh day is the source.
In response to the “OPEC+” decision to lower oil production, Egypt publishes a statement.
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