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(OPEC) and (OPEC+) renew their commitment to maintaining the stability of the global oil market

04-01-2024

The General Secretariat of the Organization of the Petroleum Exporting Countries (OPEC) reaffirmed the full commitment of the member states of the organization and the alliance of non-OPEC producing countries (OPEC+) to maintaining the stability of the global oil market by moving forward with the declaration of cooperation concluded between them on December 10, 2016. The secretariat said in a statement distributed from its headquarters in Vienna on the occasion of the start of the new year that the member states, as well as the OPEC+ alliance, are also firmly committed to the common goals of unity and cohesion within the alliance. The statement stated that the exceptional efforts made by the member states of OPEC and OPEC+ and participation in the Declaration of Cooperation are clear and lie in supporting the global economy to overcome many of the challenges witnessed in recent years, including the Covid-19 pandemic, as well as ensuring stability. Oil prices. He added that the unprecedented levels of cooperation, dialogue, mutual respect and trust will remain the basis for these ongoing efforts to move forward to serve the interests of all producers, consumers and investors as well as the global economy as a whole.