Saudi Arabia’s crown prince says his country supports extending an agreement by major oil producers to limit output beyond next March.
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Crown Prince Mohammed bin Salman said Saturday that the OPEC-led agreement is necessary to balance supply with demand.
Saudi Arabia is the world’s largest producer and the most influential member of OPEC. The agreement, which kicked in at the start of 2017, also included Russia and other non-OPEC countries.
The Organization of the Petroleum Exporting Countries is expected to take up the agreement at its next meeting on Nov. 30.
