Baku, Azerbaijan, Dec. 5
By Leman Zeynalova – Trend:
OPEC and non-OPEC producers should work together in order to ensure stability of the oil market, said OPEC Secretary General Mohammad Sanusi Barkindo.
He made the remarks at Petrotech 2016 exhibition and conference, which kicked off Dec. 5 in New Delhi, India and will continue until Dec. 7, according to a message on the OPEC website.
“We must continue to work together: producers and consumers, OPEC and non-OPEC producers, and those working in the upstream as well as the downstream,” said Barkindo. “We all have something to gain by working together – and much to lose if we do not.”
There is a clear need to ensure that prices are supported and stabilized, said OPEC secretary general, adding this is something that can only be achieved together, by sharing outlooks and through collaboration among the producers, particularly as the world continues to evolve towards more inter-dependence and more tightly integrated energy markets.
“And it is exactly this spirit of cooperation that guided the actions of our member countries when they found firm and common ground during the meeting of the conference on November 30 in Vienna,” said Barkindo.
He pointed out that such thinking also lies behind the establishment of active, formal and ongoing dialogues with the European Union, China and Russia, as well as with a number of other non-OPEC producers.
He confirmed that the joint ministerial level meeting with non-OPEC countries will be held Dec. 10 at the OPEC Secretariat in Vienna – the first such meeting since 2002.
OPEC has invited 14 non-OPEC countries to the meeting to be held Dec. 10 in Vienna, Bloomberg reported citing Barkindo. The invited countries are Russia, Mexico, Oman, Kazakhstan, Bahrain, Colombia, Congo, Egypt, Trinidad and Tobago, Turkmenistan, Azerbaijan, Bolivia, Brunei, Uzbekistan, he added.