OPEC Secretary-General Badli: Ready to take measures to ensure market stability

OPEC Secretary General Badri said on the 21st that OPEC is ready to take measures to stabilize the global oil market.
Comprehensive Foreign Power reported on May 21 that Abdella Salem el-Badri, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), stated on the 21st that OPEC is ready to take measures to stabilize the global oil market, but given the crude oil above the 5-year average value. The inventory trend is that these factors rather than actual global supply and demand affect oil prices.
Badi said that the current high oil prices are not affected by the fundamentals of the market, because the market supply is good. OPEC will continue to monitor the global oil market on a regular basis and, if necessary, prepare to take measures to ensure a stable and adequate supply of the market.
Badli said that he was concerned about the volatility of the oil market and urged consumers, producers and investors to cooperate to find a lasting solution to the instability.

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