Saudi Energy Minister Prince Abdulaziz bin Salman praised a newly adopted OPEC+ mechanism for evaluating member countries’ maximum oil production, calling it a landmark step toward stabilizing global markets.

Speaking at a Saudi-Russian business forum in Riyadh on Monday, Prince Abdulaziz described the system as the “most detailed, technical, and transparent” approach for managing oil output. He emphasized that it would reward countries investing in production while providing a clear and fair framework for setting future quotas.

“Yesterday was probably one of the most successful days in my personal career,” he said, acknowledging the support of Russia and other allies. “This mechanism ensures that growth-minded producers are recognized and incentivized.”

The mechanism, approved by OPEC+ on Sunday, will assess members’ maximum production capacity between January and September 2026, forming the basis for output quotas starting in 2027. Meanwhile, the group agreed to maintain current oil production levels through the first quarter of 2026.

Prince Abdulaziz’s comments reflect Saudi Arabia’s push for transparency and fairness in oil production management, addressing long-standing tensions within OPEC+ over quotas and capacity among member countries.