Saudi Arabia and Oman call for continued oil cooperation between OPEC and allies
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Saudi Arabia and the Sultanate of Oman said in a joint statement that they call for continued cooperation between OPEC and other allied producers to achieve stability and balance in the oil market.
Saudi Arabia, the largest oil producer in the Organization of the Petroleum Exporting Countries, and Oman, a small non-OPEC producer, are part of the OPEC+ alliance that includes other countries such as Russia.
Last week, OPEC+ canceled talks to amend its agreement on oil production curbs after a row between Saudi Arabia and the United Arab Emirates, another Gulf producer that is a member of OPEC. The dispute has hampered plans to pump more oil into the market, as crude prices recently reached their highest level in two and a half years.
OPEC + said it would decide at a later time a date for a new meeting, without indicating whether a compromise had been reached.
Sultan of Oman Haitham bin Tariq Al Said visited Saudi Arabia on Sunday on his first official foreign trip since taking power in 2020.