Saudi Minister of Energy Prince Abdulaziz bin Salman said Wednesday the OPEC is considered the stabilizing power of the energy market and "we seek to maintain this role." Speaking during a session about global market situations held on the sidelines of the eighth OPEC forum in Vienna, Prince Abdulaziz said "we often try to reassure markets and that there should be permanent room for making compromises".
He affirmed cooperating during crises and working with independent agencies to make sure of Russian's commitments to OPEC+ alliance. However, the Saudi minister said "we still face challenges and we should negotiate to address situation transparently".
He expressed satisfaction about producers in OPEC+ and stressed continuing required efforts aiming to supply markets with their needs of oil.
He said that they interact with the markets and communicate in order to overcome all forms of imbalance and find solutions to problems.
Source: Kuwait News Agency