RIYADH: The electrical interconnection project between 海角直播 and Iraq will support the Iraqi electrical grid, according to 海角直播鈥檚 Energy Minister Prince Abdulaziz bin Salman.
In an interview with Al-Arabiya, the prince said the connection was a dream that had become a reality and would achieve tangible economic benefits and enhance energy security.
Speaking on the sidelines of the OPEC+ meeting in Vienna, he said: 鈥淲e have no complexes about speculation in the oil market,鈥 and the decision to cut oil production was a 鈥減recautionary鈥 one.
鈥淓veryone agreed to cut production and we did not force anyone,鈥 he said.
The prince said the oil market needed reassurances and measures to prevent fluctuations.
鈥淲e have no interest in the fluctuation of the oil market, whether in the short or long term,鈥 he said.
The aim was to give the oil market clear data for stability and there were independent bodies that would work with the OPEC+ countries to evaluate their production in 2024, he said.
鈥淭he task of the independent bodies is to ensure the reliability of data for the oil market,鈥 he said, adding that those parties would end the previous controversy over production data in OPEC+.
The minister said they had discussed with Russia the issue of its production and requested it clarify its data.
鈥淢oscow鈥檚 decision not to publish production data leaves doubts about its volume,鈥 he said.
鈥淚ndependent parties contacted Russia about its production and got the numbers, and we have strengthened transparency with Russia over its oil production numbers.鈥
