Saudi Energy Minister Prince Abdulaziz bin Salman said today Friday that the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance only aim at market stability, which benefits producers, the oil industry and the concept of energy security.
And at the ceremony marking the anniversary of the founding of OPEC in Baghdad, the minister added: “Consensus is the main principle of OPEC +, and without it we would not be able to maintain market stability in the face of economic fluctuations.”
And Prince Abdulaziz said that the OPEC+ decisions last week were made by collective consensus, which will restore our internal position as OPEC and OPEC+, the Arab World News Agency quoted.
He added that the OPEC+ mechanisms, including those developed during the last meeting, “will allow us to continue to maintain the active role of OPEC and OPEC+ and allow them to fulfill their responsibilities, including seeking justice. for all members.
The minister also said that these mechanisms “allow members who will continue to invest, and this agreement and its mechanisms will be specific to these countries, to invest, as well as reassure those who will invest with them that they will not be derailed or stopped, but rather those who invest will be rewarded with the opportunity to increase their stake in OPEC+ agreements.
