OPEC: Oil market tends to stabilize following Algiers agreement

ALGIERS- The oil market tends to stabilize following the Agreement signed in Algiers by the member countries of the Organization of the Petroleum Exporting Countries (OPEC), said Saturday in Algiers Venezuela’s Minister of Foreign Relations Delcy Eloina Rodriguez Gomez.

“We see that the oil market tends to stabilize and this has naturally a link with OPEP historic agreement signed in Algiers,” said Venezuelan minister following her meeting with Minister of State, Minister of Foreign Affairs and International Cooperation Ramtane Lamamra, in the presence of the two countries’ energy ministers.

“For two years, we have done great work, which resulted in the Agreement of Algiers and that of Vienna too,” she added.

Rodriguez Gomez said the meeting with the Algerian party helped “make an assessment” of “what remains to be done” and ensured that “the oil exporting countries will pursue their coordination to reach final stabilization of the oil market.”

Dubbing “very fruitful” the meeting with Lamamra and Energy Minister Nouredine Boutarfa, Rodriguez Gomez said it wrapped up a series of meetings with the officials of various oil producing countries (Russia, Iraq, Iran, Kuwait, Oman, Saudi Arabia and Qatar).

“We are extremely pleased that Algiers is the last stopover of our trip because Algeria and Venezuela are tied with very strong links of fraternity,” he added.

Mentioning the South-South cooperation, the Venezuelan minister said that “things remain to be accomplished to face the hegemonic forces,” calling for “working together for a multipolar and united world.”

Source: OPEC: Oil market tends to stabilize following Algiers agreement


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