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OPEC Secretary General Haitham al-Ghais said on Sunday that the group, alongside other producers that form the OPEC+ alliance, took purely technical decisions and that oil output cuts were a pre-emptive measure.
Speaking from Algeria, Ghais also said a slew of statements from producer nations in support of the Oct. 5 decision to cut oil output by 2 million barrels per day (bpd) were a measure of its effectiveness.
"We welcome these statements and they are proof that the decision was correct," he told reporters.