Saudi Minister: OPEC+ Move to Delay Output Hike Was a Reality Check

The OPEC+ group faced a “reality check” in discussions about its production policy and had the double task of attending to fundamentals and at the same time putting together something to assuage the negative market sentiment, Saudi Energy Minister, Prince Abdulaziz bin Salman, told CNBC in an exclusive interview on Friday. The OPEC+ alliance decided on Thursday to delay the start of the easing of the 2.2 million barrels per day (bpd) cuts to April 2025. OPEC+ has already postponed twice the beginning of the output increase. January…