Oil market on path to rebalancing, OPEC monitoring situation –Qatar
Qatar’s energy minister said on Monday the oil market is on the path to rebalancing despite the recent decline in global oil prices, adding that the exporting group was in continuous talks to stabilise the market.
“The recent decline observed in oil prices and the current market volatility is only temporary,” Mohammad bin Saleh al-Sada, Qatar’s minister of energy and industry and current OPEC president said in a statement.
“OPEC continues to monitor developments closely, and is in constant deliberations with all member states on ways and means to help restore stability and order to the oil market.”
An informal meeting of OPEC member countries is scheduled to take place on the sidelines of the International Energy Forum in Algeria from Sept. 26-28, the statement said.
