El-Badri: we expect stabilization of oil prices

OPEC is expecting the stabilization of the oil market in the long term, oil prices will stabilize in 2016, Secretary General of OPEC, Abdallah Salem el-Badri, said during the meeting of the OPEC-Russia Energy Dialogue in Moscow.

"I think that today we will address these issues, we will discuss short-term and long-term development of the oil market," he said.

"We are impacted by the market instability and price totality that we have seen in recent quarters. The current situation is a test for all producers and investors," RIA Novosti cited the head of OPEC as saying.