OPEC chief underlines importance of joint work to confront challenges
Date
9/6/2016 12:41:57 AM
(MENAFN- Kuwait News Agency (KUNA)) DOHA, Sept 5 (KUNA) -- OPEC Secretary-General Mohammad Sanusi Barkindo underlined importance Monday of working together to overcome challenges facing oil markets, and ensure stability and to boost security and safety of supplies and demands to support stability of the global economy.
Barkindo made his remarks in a press statement after a trilateral meeting hosted in Doha along with Qatar's Minister of Energy and Industry Dr. Mohammad Al-Sada and Algerian Minister of Energy Noureddine Boutarfa.
Barkindo said talks and discussions were fruitful and views were exchanged concerning oil global market.
OPEC chief expressed his optimism in overcoming challenges in the market, stressing it was not the first or the last time it happened in the oil industry.
He noted how the decline in oil prices has had an adverse effect on the global economy as USD billions worth of investments in oil exploration were scrapped.
Barkindo said that he is looking to stabilize oil prices which will be a boost to growth globally.
The Secretary-General also said he supported the joint statement issued today by Russia and Saudi Arabia saying they will cooperate to monitor the prices of oil.
Barkindo expressed his appreciation to the role the State of Qatar plays in coordinating between oil producers to pursue stable prices for oil.
For his part, the Algerian Minister said that his administration's view is that the current level of prices was to low and don't help the economies of oil producers.
The minister stressed the importance of the unofficial OPEC meeting later this month as a chance to reach positive conclusions regarding the prices. (end) nnd.mb
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