Riyadh, January 03, 2024, The OPEC Secretariat, in collaboration with OPEC Member Countries and non-OPEC producing countries participating in the Declaration of Cooperation (DoC), has reaffirmed its full commitment to unity and cohesion. This commitment extends to their unwavering efforts to uphold stability in the oil market, as outlined in the Declaration of Cooperation initially signed on December 10, 2016, and subsequently endorsed in subsequent meetings, as stated in a release from the OPEC Secretariat.
The statement further underscores the steadfast commitment of OPEC Member Countries to shared objectives of unity and cohesion, both within the Organization itself and with the non-OPEC producing countries involved in the DoC.
According to the statement, the extraordinary efforts made by OPEC Member Countries and non-OPEC producing countries in the DoC have played a crucial role in supporting the global economy, especially in overcoming challenges such as the COVID-19 pandemic. This collaborative effort has been instrumental in ensuring the stability of the oil market, particularly when compared to other commodities.
The statement emphasizes that the unprecedented levels of cooperation, dialogue, mutual respect, and trust will continue to be the foundation for ongoing collaborative efforts. This commitment is positioned for the benefit of all stakeholders, including producers, consumers, investors, and the broader global economy.
