OPEC ready to regulate global oil market for another 60 years, says Secretary General

OPEC ready to regulate global oil market for another 60 years, says Secretary General
  • Clock-gray 14:15
  • calendar-gray 14 September 2020

The Organization of the Petroleum Exporting Countries (OPEC) celebrates its 60th anniversary on Monday and plans to retain the role of stabilizer on the global oil market for another at least six decades, Secretary-General Mohammad Barkindo said in his speech published on the website of the OPEC Secretariat, APA reports citing TASS.

"Looking ahead, the Organization stands ready to meet the many challenges we shall face as we enter the next 60 years of our history. We remain focused on a balanced and stable oil market, in the interests of both producers and consumers, as most recently exhibited through the Declaration of Cooperation and the historic production adjustments of 2020," he said, adding that the agreement provides "options and solutions to some of the major challenges facing humankind, such as sustainable development and energy poverty alleviation."
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