Saudi Energy Minister: OPEC+ Members’ Collective Efforts Achieved the Miracle

Saudi Energy Minister Prince Abdulaziz bin Salman said on Sunday that the ongoing global developments have proven that OPEC+ has taken the right decision. 

The collective efforts of the group have led to what he described as the “miracle” in 2020. 

OPEC+ is keen on being regulators of the market just as central banks are, he told a forum in Riyadh on the back of the Kingdom’s 2023 budget announcements. 

“I would like to remind everyone of where we were in April 2020 and where we are today in spite of massive market fluctuations,” he stressed. 

He insisted every OPEC+ alliance member take part in decision-making, adding that this “has helped us build trust”. 

“We must build trust between countries and OPEC+ members,” said Prince Abdulaziz. 

“OPEC+ operates from an economic position and does not get involved in political aspects,” he continued. 

Moreover, the minister said the group succeeded in overcoming all geo-political challenges and the coronavirus pandemic.