The recent decision of the OPEC+ to limit oil outputs would balance supply and demand in the global oil market, Austria's OMV energy group CEO Rayner Zele said.
Zele noted that he welcomes the decision. "It will stabilize markets. We are not interested in disbalance on the global oil markets. This decision will lead to stabilizing the supply and demand and eliminating surplus," Sputnik cited the OMV CEO as saying.
On December 7, the cartel and non-OPEC producers decided to jointly reduce output by 1.2 million barrels per day starting January 2019.
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