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A worker walks at the Nahr Bin Umar field, north of Basra, southeast of Baghdad, November 16, 2014. REUTERS/Essam Al-Sudani

OPEC publication urges non-members to help stabilize oil market

LONDON – OPEC has criticized unidentified non-member countries for their refusal to cooperate with the oil exporter group in propping up prices and repeated its call for them to do so.

“There is a stubborn willingness of some non-OPEC producers to adopt a go-it-alone attitude, with scant regard for the consequences,” said the commentary in the latest edition of the monthly OPEC Bulletin.

“In the past, OPEC has often shouldered the burden of ensuring oil market stability alone. In the current situation, which should be of great concern to ALL, is it not time for this burden to be shared?”

The Organization of the Petroleum Exporting Countries last year refused to cut its oil output after non-member countries including Russia declined to offer output curbs, deepening a slide in oil prices.

In related news, OPEC’s no-cut strategy is not working, Iran says.

(Reporting by Alex Lawler; Editing by David Goodman)

This article was from Reuters and was legally licensed through the NewsCred publisher network.

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