Minister said Emirati Energy Suhail Al Mazrouei Today, Wednesday, the efforts of oil producers in the OPEC + group to increase production are “not encouraging”, noting that the group’s production is currently less than its target by regarding 2.6 million barrels per day.
“According to a report last month, we witnessed the compliance of the OPEC + group (with production cuts) and compliance was more than 200%,” Al-Mazrouei said at an energy conference in Jordan.
Compliance of more than 100% means that the country is producing less than it is supposed to produce, with OPEC + looking to gradually lift production restrictions.
“We hope that Europe will not think that other countries can give up Russian oil and gas, because if this happens, we are talking regarding an unprecedented crisis,” the minister added.
“We are talking with our friends in Germany and elsewhere regarding whether they are interested in our production of natural gas,” the minister said.