Reportedly, the OPEC+ deal to cut oil supply is still relevant for Saudi Arabia. According to experts, the kingdom is determined to adhere to the agreement and will continue to reduce oil production. Presently, Saudi Arabia is committed to its previous obligations to minimize oil extraction to support prices. The country is willing to cut oil output by 400 thousand barrels per day in terms of the deal with OPEC+ alliance. According to preliminary estimates, this and next month, oil production volume in Saudi Arabia will be about 9.86 million barrels per day. Saudi Arabia officials believe that it will be possible to talk about changing the current strategy if OPEC and its oil-producing allies review their obligations. Depending on the current situation, members of OPEC+ can update the details of the agreement on crude oil production before the December meeting, Saudi authorities say.
