Saudi Arabia highlights groups’ effort to stabilize the oil market

Saudi Arabia praised the countries inside and outside the Organization of the Petroleum Exporting Countries (OPEC) for their unity and commitment to the stability of the oil market through the "Declaration of Cooperation" signed in December, according to a cabinet statement.

The statement added that the cabinet renewed the Kingdom's willingness to support efforts aimed at increasing the stability and balance of oil markets.

Angola announced in December that it was leaving OPEC, reducing the number of members to 12 countries.