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Bahrain’s oil minister vows to ensure market stability through joint OPEC+ efforts

August 24, 2022
oil and gas

RIYADH: Bahrain’s Minister of Oil and Environment and Special Envoy for Climate Affairs Mohamed bin Mubarak bin Daina on Tuesday said that OPEC+ partners will continue to work together to manage global oil prices through production adjustment.

In a statement, he stressed that market stability is essential for managing global oil and energy supplies to avoid space capacity price volatility.

The oil minister said the 2016 Declaration of Cooperation between OPEC members and the 10 non-OPEC oil-producing countries, to which Bahrain is a signatory, underpins the stability of the global oil market.

He affirmed Bahrain’s commitment to ensuring oil market stability through continuous cooperation with oil-producing countries. He stated Manama looks forward to participating in the upcoming ministerial meetings to reach a consensus on addressing challenges and unifying oil production policies.