Saudi Arabia, Oman call for continued oil cooperation between OPEC and allies

DUBAI: Saudi Arabia and Oman called on Monday for continued cooperation between OPEC and other allied producers to stabilise and balance the oil market, the Gulf states said in a joint statement.

Saudi Arabia, the biggest oil producer in the Organization of the Petroleum Exporting Countries, and Oman, a small non-OPEC producer, are both part of the OPEC+ alliance, which includes other nations such as Russia.

#سلطان_عُمان يغادر المملكة ،،، وسمو #ولي_العهد في وداعه لدى مغادرته مطار خليج #نيوم.#واس pic.twitter.com/tdh88i1vjx

— واس الأخبار الملكية (@spagov) July 12, 2021

OPEC+ scrapped talks last week to adjust their agreement on oil output curbs after a dispute between Saudi Arabia and the United Arab Emirates, another OPEC producer in the Gulf. The dispute halted plans to pump more oil into the market where crude prices have recently hit 2-1/2 year highs.

OPEC+ have said they will decide later on a date for a new meeting, without signalling whether a compromise had been reached.

Oman’s leader, Sultan Haitham bin Tariq al-Said, visited Saudi Arabia on Sunday on his first official overseas trip since assuming power 2020.

#فيديو
سمو #ولي_العهد يصحب #سلطان_عمان في جولة بمركز نيوم للإثراء المعرفي في #نيوم.#السلطان_هيثم_يزور_المملكة#واس pic.twitter.com/xyuovCbg9R

— واس الأخبار الملكية (@spagov) July 11, 2021

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