KHARTOUM, Oct 19 (NNN-Xinhua) — Sudan declared Tuesday its support for the recent decision by the Organization of the Petroleum Exporting Countries (OPEC) and its partners, collectively referred to as OPEC+, to cut back on oil production.
“The Ministry of Foreign Affairs has followed up on the consequences of the OPEC+ decision to reduce oil production, the campaign against the Kingdom of Saudi Arabia, and the attempts to hold it responsible for the repercussions of the decision,” the ministry said in a statement.
“Sudan, as a member of the group, stresses that the decision to cut the oil production came with consensus among all member states,” the ministry said.
The statement stressed Sudan’s support for the Saudi stance that the OPEC+ decision was based purely on economic considerations, aiming to maintain the balance of supply and demand in the oil markets, as well as to limit volatility that does not serve the interests of consumers and producers.
On Oct 5, OPEC+ announced a major production cut of 2 million barrels per day (bpd) starting November to bolster oil prices that have recently tumbled over recession fears.
The reduction equals around 2 percent of this year’s global oil production, which is estimated by OPEC at around 100 million bpd.
The OPEC+ decision reportedly sparked US criticism of Saudi Arabia and accusations of siding with Russia, which Riyadh rejected.
