Opec is willing to act if needed to ensure adequate supply of oil, although record-high prices are being driven by factors beyond supply and demand, Opec said in a statement. The exporter group issued the statement after its secretary general, Abdullah al-Badri, met Venezuelan oil minister Rafael Ramirez during a visit to the country, one of Opec's founder members.
"They stressed that Opec will continue to monitor global oil markets regularly and is ready to act if and when necessary to ensure market stability and adequate supplies," the statement from Opec's headquarters said. "The current high oil prices are not influenced by market fundamentals, as the market is well supplied."
Comments
Comments are closed.