OPEC+ next meet on January 4 - Saudi King keen on the continuation of the oil agreement

Saudi Arabia's King Salman said the OPEC+ production agreement was "essential" to oil market stability and stressed the need for producers to comply with the pact.

Eamonn Sheridan

Reuters carried the comments:

"The Kingdom ... confirms its keenness for the continuation of the OPEC+ agreement due to its essential role in oil market stability and also stresses the importance of compliance by all participating countries with the agreement,"

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The Organization of the Petroleum Exporting Countries and allies (is OPEC+, the group includes Russia). At the December meeting the group agreed to hold to their existing policy of monthly oil output increases. The meeting pon Jan 4 will be a highlight for markets in the first week of the new year.