Saudi Arabia is considering giving up co-chairing the OPEC+ Committee

According to news agencies, Riyadh is considering giving up the post of co-chair of the OPEC+ Ministerial Monitoring Committee.

Saudi Arabia co-chairs the Committee along with Russia. Bloomberg reports that if Riyadh refuses to co-chair, the United Arab Emirates will not agree to take the Saudis’ place in the Committee.

Recall that following an informal meeting of the OPEC+ Ministerial Monitoring Committee, the participants disagreed on the oil deal’s fate. The video conference of OPEC+ countries, where it was planned to resolve a possible increase in oil production, was decided to be postponed from December 1 to December 3.

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