ECONOMY


One of key goals is to normalize global oil supply, Saudi minister

Baku, March 18, AZERTAC

“One of the key goals of oil-producing countries is to normalize the global oil supplies,” said Minister of Energy, Industry and Natural Resources of Saudi Arabia Khalid Abdulaziz Al-Falih as he addressed the 13th meeting of the OPEC/Non-OPEC Joint Ministerial Monitoring Committee (JMMC) in Baku.

Al-Falih noted that a number of significant measures have been implemented to stabilize and balance the global oil market within the last year. “It is due to the successful cooperation established within the OPEC and OPEC+ format that we have today achieved the reasonable oil prices,” he said.

“It is remarkable that this meeting is being held here in Baku, the homeland of oil. Today, Azerbaijan is an active participant of the cooperation within OPEC+ format,” the Saudi minister added.

 

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