Saudi Arabia emphasises support for efforts to stabilise oil markets -cabinet statement

Saudi Arabia praised countries both within and outside the Organization of the Petroleum Exporting Countries (OPEC) for their unity and commitment to oil market stability through the "Declaration of Cooperation" signed in December, a cabinet statement said on Tuesday. The statement added that the cabinet renewed the Kingdom's keenness to support efforts aimed at enhancing the stability and balance of oil markets.

Angola said in December that it was leaving OPEC, reducing membership to 12 countries.