BAGHDAD-The Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ alliance succeeded in stabilizing oil prices, which benefited not only the member states and but the oil industry in general, Saudi Energy Minister Prince Abdulaziz bin Salman said on Friday.
Photo by Reuters file.
The Saudi minister made the statement during a celebration hosted by the Iraqi capital Baghdad on Friday to mark the Diamond Anniversary of OPEC's founding, in the presence of oil and energy ministers of some member states, including Kuwaiti acting minister.
The OPEC achieved the purpose of its founding and enhanced its march by accepting the Saudi proposal to found the OPEC+ alliance, which helped the organization achieve its aims, he said.
Both OPEC and OPEC+ have succeeded in achieving stability in oil markets, thanks to consensus among all OPEC member states, amid the current conditions, economic fluctuations and uncertainty facing the world, he elaborated.
The minister lauded the results of the OPEC meeting in Vienna, stressing that its outcomes supported member states and gave tranquillity to oil investors.
Meanwhile, OPEC Secretary General Haitahm Al-Gais said the organization played a pivotal role in maintaining stability and balance in energy markets across the world. (SG/Agencies)
The OPEC achieved the purpose of its founding and enhanced its march by accepting the Saudi proposal to found the OPEC+ alliance, which helped the organization achieve its aims, he said.
Both OPEC and OPEC+ have succeeded in achieving stability in oil markets, thanks to consensus among all OPEC member states, amid the current conditions, economic fluctuations and uncertainty facing the world, he elaborated.
The minister lauded the results of the OPEC meeting in Vienna, stressing that its outcomes supported member states and gave tranquillity to oil investors.
Meanwhile, OPEC Secretary General Haitahm Al-Gais said the organization played a pivotal role in maintaining stability and balance in energy markets across the world. (SG/Agencies)