On Sunday, Kuwait’s state news agency (KUNA) reported comments from the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Arab oil ministers, Reuters cites.
A statement released by the committee, known as the JMMC read:
The ministers “stressed the need to maintain the existing cooperation and continue the successful endeavor carried out by the participating countries.”
“They called for sustaining the current partnership in order to continuously adapt to ongoing market dynamics, in pursuit of the interests of consumers and producers whilst promoting healthy global economic growth.”
The ministers also “emphasized the need for healthy market conditions that stimulate adequate investments in the energy sector, in order to ensure stable oil supplies are made available in a timely manner to meet growing demand and offset declines in some parts of the world.”