OPEC ‘historic’ decisions maintain market stability: Kuwaiti oil minister

OPEC 'historic' decisions maintain market stability: Kuwaiti oil minister

Kuwait (UNA-OIC) – Kuwaiti Minister of Oil and Acting Minister of Electricity and Water Dr. Khaled Al-Fadhil affirmed that the Organization of Petroleum Exporting Countries (OPEC) has maintained oil markets stability with historic decisions this year.

In a statement issued by the Ministry of Oil on Monday, 14 September, marking the 60th anniversary of OPEC’s founding, the Kuwaiti minister said the organization has proven leadership in terms of detecting the ideal equation of maintaining prices to ensure the interests of consumers without negatively affecting the producers and investors in the oil industry.

Al-Fadhil also noted that OPEC’s celebration of its founding this year coincides with the world’s passing through difficult circumstances due to COVID-19, which led to widespread economic disruptions and unprecedented fallouts in the history of the industry.

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