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OPEC Secretary General Discusses Plans to Expand Membership and Strengthen Organization

OPEC Seeks to Increase Membership to Strengthen the Organization

OPEC Secretary General’s Statement

OPEC Secretary General Haytham Al-Ghais stated the organization’s desire to increase the number of member states, since consultations have been held so far with Azerbaijan, Malaysia, Brunei and Mexico to join the organization in a way that helps strengthen OPEC.

Consultations with New Non-Member Countries

Al-Ghais said in a speech on the sidelines of the 8th International OPEC Conference, which kicked off today in the Austrian capital Vienna, that consultations with new non-member countries help to increase cohesion and strengthen OPEC.

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Strategic Focus on Oil Market Stability

He pointed out that the organization does not seek to join a specific number of countries, but rather targets countries that have the same strategic focus on preserving and stabilizing oil markets, Emirates News Agency, WAM reported.

Common Goal for Stabilizing Oil Markets

And the OPEC Secretary General said that the four countries that have consulted with the organization since 2017 and have been qualitatively tested during the market crash and the coronavirus pandemic in 2020, and therefore all these countries have a common goal that is in the interests of stabilizing oil markets.

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