OPEC: Algeria will work with its partners for price stabilization

June 8th, 2018

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APS : Thursday, 07 June 2018

ALGIERS- Algeria will work with the member states of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries, during the meeting in Vienna on 22 June,
to ensure the balance between supply and demand in order to preserve oil market stability, said Thursday in Algiers Minister of Energy Mustapha Guitouni.
In a statement to the press on the sidelines of an oral question session at the Council of the Nation (Upper House of Parliament), the minister added that sub-committees are examining the current situation in the international oil market and drawing up reports, which will be submitted to Vienna’s meeting with a view to taking a series of measures.
“The most important for us is to reach a balance between supply and demand in order to preserve oil market stability,” he said.
“There are some known geopolitical problems, which have been taken into consideration during the preparations for this important meeting,” added Guitouni.