Members of the OPEC+ club of oil producers need to be ready to adjust their existing deal on output cuts in order to prevent another slump in prices, the group’s kingpin Saudi Arabia said Tuesday.
“We must be ready to tweak the terms of our agreement if need be,” said Saudi Energy Minister Prince Abdulaziz bin Salman in a live-streamed address ahead of a meeting of the group, which comprises the OPEC club of nations as well as allies such as Russia.
“Flexibility and pro-activeness must continue to be the guiding principles of our deliberations today and in the future,” he added.
