Algeria says to seek OPEC consensus on price stability: stat...| MENAFN.COM

Friday, 12 August 2022 09:08 GMT

Algeria says to seek OPEC consensus on price stability: state media

(MENAFN- The Peninsula) Salah Khebri

ALGIERS: Algeria’s Energy Minister Salah Khebri said on Wednesday the North African oil-producing state would continue to work to reach an agreement within OPEC to stabilise crude prices according to the APS state news agency.

After meeting with Iran’s deputy oil minister in Algiers Khebri said the two countries shared the “same position” on defending the interests of oil-exporting countries. But he said OPEC had been “ignoring” the collective interests of its member states APS reported.

“We continue to work to try to reach a consensus within OPEC to stabilise oil prices” Salah said after meeting with Iranian deputy oil minister according to APS.

“This organisation (OPEC) has been created to defend the individual and collective interests of member countries but unfortunately this collective part has been ignored.”

With world oil prices down sharply support is growing among non-Gulf members for action and even some Gulf officials are concerned about the latest drop in prices.

(Reporting by Hamid Ould Ahmed; writing Patrick Markey; Editing by Greg Mahlich)


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