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OPEC’s Barkindo says common objective with non-OPEC partners is market stability

Reuter’s:

Egypt's annual EGYPS 2022 petroleum show begins at the capital city of Cairo
OPEC Secretary General Mohammad Barkindo attends a session during Egypt’s 5th Petroleum Show “EGYPS 2022” at the capital city of Cairo, Egypt, February 14, 2022. REUTERS/Amr Abdallah Dalsh/Files

BAGHDAD, June 18 (Reuters) – The common objective of the Organization of the Petroleum Exporting Countries and its non-OPEC partners has always been to maintain oil market stability, not to raise prices or bring them down, OPEC Secretary General Mohammad Barkindo said on Saturday.

Asked whether bringing 9.7 million barrels a day back to the market according to the latest adjustment decision by OPEC+ would help bring oil prices down, he said “we cannot dictate to the market what it does” but the task to continuously bring supply and demand in balance is the responsibility of all producers.