OPEC’s Barkindo says common objective with non-OPEC partners is market stability

BAGHDAD (Reuters) – The common objective of the Organization of the Petroleum Exporting Countries and its non-OPEC partners has always been to maintain oil market stability, not to raise prices or bring them down, OPEC Secretary General Mohammad Barkindo said on Saturday.

Asked whether bringing 9.7 million barrels a day back to the market according to the latest adjustment decision by OPEC+ would help bring oil prices down, he said “we cannot dictate to the market what it does” but the task to continuously bring supply and demand in balance is the responsibility of all producers.

(Reporting by Moayad Kenany, Writing by Yasmin Hussein, Editing by Andrew Heavens)