RIYADH: The OPEC Secretariat, in consultation with OPEC Member Countries and the non-OPEC producing countries taking part in the Declaration of Cooperation (DoC), re-affirms the complete commitment by the nations attending the DoC to unity and cohesion, as well as their continued and unwavering efforts to maintain oil market stability going forward via the Declaration of Cooperation, inked on 10 December 2016 and further endorsed in subsequent meetings, the Saudi Press Agency (SPA) cited the statement of OPEC Secretariat.
OPEC and non-OPEC Oil-Producing Countries Re-affirm Commitment to Unity, Full Cohesion and Market Stability through the Declaration of Cooperation.https://t.co/dpKCyRGDsP#SPAGOV pic.twitter.com/ClesB8eTa4
— SPAENG (@Spa_Eng) January 3, 2024
According to the SPA, furthermore, OPEC Member Countries re-affirm their steadfast promise to the shared objectives of unity and cohesion both within the Organization, and with the non-OPEC producing nations participating in the DoC.
OPEC and non-OPEC Oil-Producing Countries Re-affirm Commitment to Unity
The extraordinary efforts by OPEC Member Countries and non-OPEC producing countries attending the DoC, said the statement, have been evident in supporting the world economy to overcome the many challenges witnessed across the past several years, including the COVID 19 pandemic, and have ensured stability of the oil market particularly when compared to other commodities.
The unprecedented levels of cooperation, mutual respect, dialogue, and trust will continue to be the basis for these continued collaborative efforts going forward, the SPA added. This is for the benefit of all producers, investors, and consumers as well as the global economy at large, the statement said.
