OPEC: Jeddah Meeting Next May Focuses On Supporting Stability Of Oil Market

Baghdad, The Organization of Petroleum Exporting Countries (OPEC) has stressed the importance of the 14th ministerial committee on production control, which will be held in Jeddah from 17 to 19 next month, preceded by a meeting of the Joint Technical Committee for Producers in OPEC and no-OPEC countries.

A recent OPEC report said: This is the second time Saudi Arabia has hosted the ministerial committee meeting, the first meeting on April 20, 2018, and has already achieved great success with a rise to a record 149 per cent by all countries participating in the Declaration of Cooperation.

The statement pointed out that "the Jeddah meeting last year was a clear sign of the dedicated participation of producers to achieve sustainable stability in the global oil market, pointing out that the next Jeddah meeting will complete the procedures supporting market stability and the success of the 13th meeting of the Joint Ministerial Control Committee, which was held in Azerbaijani capital of Baku. "

On the understandings with US producers, the report said that "Secretary-General Mohammed Barkindo visited the United States last month as part of the international understanding program to support dialogue and build confidence with a variety of stakeholders in the US and international oil industry."

The report noted that "Barkindo said during his multiple talks in Washington, that" OPEC "will continue to communicate with energy stakeholders around the world, because further dialogue will lead to greater understanding, noting that the new openness requires support channels dialogue and strengthen the cooperation distinguished frameworks, especially with the United States, which the Secretary-General of the "OPEC" focuses since taking office in August 2016.

Source: National Iraqi News Agency