OPEC in talks with several nations to join Declaration of Cooperation: Al Ghais

Haitham Al Ghais, Secretary General of OPEC

The Organization of Petroleum Exporting Countries (OPEC) is in active talks with several nations eager to join the OPEC+ Declaration of Cooperation, following the recent joining of Brazil, according to Secretary General Haitham Al Ghais.

The names of these countries will be revealed following the conclusion of the ongoing consultations in this regard, Al Ghais said today, Feb. 12, in an interview with Emirates News Agency (WAM).

Al Ghais explained that the Declaration of Cooperation aims to support the oil market's stability and benefit all industry parties, including both oil-producing and oil-consuming countries. It also provides a platform to enable dialogue and the exchange of views on conditions and developments in global oil and energy markets.

Regarding future changes in the production of OPEC member states, Al Ghais said that the continued success of the Joint Declaration of Cooperation motivated the participating countries to increase their efforts and cooperation in supporting market stability.