Oman supports OPEC+ efforts that maintain global markets stability

MUSCAT: Oman said it will support OPEC+ efforts that maintain global markets stability in the face of fluctuations and challenges, the country’s Ministry of Energy and Minerals said.

“The OPEC+ members countries participating in Declaration of Cooperation (DoC), have demonstrated their relentless commitment, agility, and flexibility to deal with the challenges that global oil market has faced over the past several years, especially in 2020,” the ministry said in a tweet.

Oil has soared in 2022, coming close in March to an all-time high of $147 after Russia’s invasion of Ukraine exacerbated supply concerns.

Fears about a global recession, rising inflation and weaker demand have since weighed on prices.

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