OPEC deal rewards investors, believers in demand growth: Minister

Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman, said that the OPEC agreement concluded on Nov. 30 rewards those who invest and believe in the existence of demand growth, placing producers in an advanced position among global peers.

According to Al Ekhbariya TV, the minister said the outcomes of the OPEC+ meetings marked a turning point, describing the day as one of the most successful of his career after approving a transparent mechanism for determining production levels.

He said producers would be present when the world acknowledged that previous rhetoric on energy would give way to the reality of consumption.

According to Argaam data, OPEC countries on Nov. 30 reaffirmed their Nov. 2 decision to suspend production increases during January, February and March 2026 due to seasonal factors.

The countries also renewed their commitment to the Declaration of Cooperation, including additional voluntary adjustments, with compliance to be monitored by the Joint Ministerial Monitoring Committee, and confirmed their intention to fully compensate for excess production since January 2024.