The Libyan Minister of Oil and Gas, Mohamed Aoun, said that the efforts of “OPEC” and Saudi Arabia, especially after extending the voluntary reduction in production, contributed to the stability of markets and the global economy.
The minister added, in an interview with Al-Arabiya on the sidelines of the OPEC conference in Vienna, that global expectations confirm that current oil prices are commensurate with the global economic situation.
Al-Aoun explained that the influence of the bloc became strong after its expansion, and therefore it is now able to work in order to reduce the flooding of the markets by increasing supply, and this is what makes the organization prepared to control global demand and limit low prices that harm the global economy.
