Oman participates in joint ministerial meeting on oil production cuts

Mohsen bin Hamad al Hadhrami, Under-Secretary of the Ministry of Energy and Minerals, participated in the joint consultative ministerial meeting held in Riyadh, Saudi Arabia. This meeting took place on the sidelines of the 37th ministerial meeting of the Joint Ministerial Monitoring Committee between the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC member states, as part of the joint cooperation charter to reduce crude oil production, via video conference.

The participating countries agreed to extend the voluntary crude oil production cuts agreed upon in April 2023 until the end of December 2025. Additionally, the voluntary additional crude oil production cuts agreed upon in November 2023 were extended until the end of September 2024, with a gradual return to monthly production increases until the end of September 2025, aiming to support the stability of oil markets.