BAKU, Azerbaijan, June 21. We put forward proposals to countries regarding production for 2024 and even beyond. I don’t rule out that it will be the case in the coming months as well, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al-Ghais told local TV channels, Trend reports.
“OPEC and non-OPEC countries are taking a very proactive and preventive steps. We follow the market situation, demand and supply dynamics, as well as forecasts. OPEC’s forecasts over the recent years have been accurate. The latest decision by OPEC+ is a clear message to the market,” he said.
Haitham Al-Ghais pointed out that Azerbaijan has been playing an exceptional role in the implementation of the Declaration of Cooperation of OPEC+ countries.
Azerbaijan’s decisive role has always been mentioned by the country’s representatives, added OPEC’s secretary general.
He said OPEC wants to contribute to stability in the market.
“We believe in constructive dialogue, an open-door policy in OPEC. The challenges facing the industry are the same for OPEC and non-OPEC producers. We are in constant contact with the major consumers,” Haitham Al-Ghais explained.
OPEC+ (23 countries) decided on 4 June to maintain its global production level in the second half of this year (but Saudi Arabia announced a 1 million barrels per day - Mb/d - cut in July 2023 and, perhaps, beyond the next month) and to lower it in 2024.
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