OPEC seeks stability of oil market – Kuwait Min.

VIENNA, Kuwait Oil Minister Bakheet Al-Rashidi said Tuesday OPEC ministers would discuss in Vienna how to deal with current supply-and-demand of oil market with the objective of achieving market stability.

Al-Rashidi, speaking to KUNA upon arrival in the Austrian capital for OPEC Ministerial Meeting, said the ministers would evaluate the state of balance in the oil market.

Al-Rashidi, also Minister of Electricity and Water, said OPEC was keen on maintaining stability of the oil markets, and the joint Ministerial Monitoring Committee (MMC) would meet tomorrow Wednesday to discuss the oil market’s conditions.

The minister said OPEC and non-OPEC oil producers would meet on Friday to discuss future cooperation.

The joint MMC, established in November 2016, consists of OPEC’s Kuwait, Saudi Arabia and Venezuela in addition to non-OPEC Russia and Oman.

Source: Kuwait News Agency