The sector vice president of the Economic Area and Minister of Petroleum, Tareck El Aissami, described as "balanced and fair" the proposal presented by Saudi Arabia and Russia for the gradual increase in crude production from May.
At the 15th Ministerial Meeting, Opec + agreed to make the cuts policy more flexible and consider raising production by at least 1,5 million barrels per day during the second quarter of 2021.
El Aissami suggested that this decision "be accompanied by permanent monitoring and surveillance", with the aim of evaluating the impact of this measure on the behavior of the world energy market.
"We can gradually adjust the compensation mechanisms of the countries that have not done so until now," he said, highlighting the relevance of this commitment made by the nations that make up this important energy alliance, is outlined in a press release.
The nations that make up OPEC + have highlighted the importance of the stability of the energy market, based on the joint interest of the producing countries to allow efficient and safe supply to consumers.
Tareck El Aissami confirmed that the declaration of cooperation is the guarantee of stability in the world oil market.