Miscellaneous

OPEC’s “historic” decisions maintained market stability – Min. Al-Fadhel

Kuwaiti Minister of Oil and Acting Minister of Electricity and Water Dr. Khaled Al-Fadhil affirmed that the Organization of Petroleum Exporting Countries (OPEC) has maintained oil markets stability with historic decisions this year.

In a statement issued by the Ministry of Oil, Monday, on the 60th anniversary of OPEC’s founding, the minister said the organization has proven leadership in terms of detecting the ideal equation of maintaining prices to ensure consumers’ interests without negatively affecting the producers and investors in the oil industry.

Al-Fadhel also noted that OPEC’s celebration of its founding this year coincides with the world’s passing of difficult circumstances due to COVID-19, which led to widespread economic disruptions and unprecedented fallouts in the history of the industry. (

Source: Kuwait News Agency