US tells Saudi Arabia to keep oil prices affordable ahead of OPEC meet
Both the countries discussed to collaborate in solving common challenges and develop energy sources, clean forms of hydrogen to combat climate change
United States in a call with Saudi Arabia that it is important to keep the energy prices affordable for consumers. US Energy Secretary Jennifer Granholm said in a tweet that she had a call with Saudi Energy Minister Abdulaziz bin Salman al-Saud today.
During the call, Granholm said that both the countries reaffirmed international cooperation to ensure the consumers with reliable sources of energy. Both the countries also discussed to collaborate in solving common challenges and develop energy sources, clean forms of hydrogen to combat climate change.
Additionally, the officials also discussed to work on increasing efficiency, reducing methane in oil and gas production, Granholm said in the tweet.
Meanwhile, ministers from the Organization of the Petroleum Exporting Countries, Russia and other allied producers, a group known as OPEC+, will meet on Thursday to reassess output policy.
OPEC+ will debate options from May and beyond, including a rollover of existing cuts and a gradual increase of production, three OPEC+ sources said.
OPEC+ has reduced output by about 7 million barrels per day (bpd) to support prices and reduce oversupply. In addition, Saudi Arabia made an extra 1 million bpd voluntary cut.
At the start of this week, the OPEC and its allies had been widely expected to maintain their output curbs for at least another month. Bolstering that view, the coalition’s technical experts lowered their demand estimates on Tuesday.
With inputs from agencies
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First Published:1 Apr 2021, 04:35 PM IST
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