Astana: In a significant move to reinforce global oil market stability, His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, the Minister of Energy of Saudi Arabia, engaged in a trilateral meeting via phone with key energy leaders from Russia and Kazakhstan. The meeting, which took place in Astana, Kazakhstan’s capital, was attended by His Excellency Alexander Novak, Deputy Prime Minister of Russia, and His Excellency Almasadam Satkaliyev, Minister of Energy of the Republic of Kazakhstan.

According to Saudi Press Agency, the discussions underscored the critical necessity of maintaining equilibrium in global oil markets. The attendees highlighted the pivotal role that the OPEC+ Group plays in ensuring this balance. They also reiterated the significance of cooperation among OPEC+ member countries, emphasizing the need for full adherence to the agreements, including the voluntary production cuts agreed upon by the participating nations, as well as the importance of compensating for any excess p
roduction.

The Kazakh Minister of Energy, Almasadam Satkaliyev, expressed Kazakhstan’s unwavering commitment to the agreements. He assured that Kazakhstan would adhere to the voluntary production cuts and compensate for any overproduction in line with the updated schedule presented to the OPEC Secretariat.