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OPEC warns media on using inappropriate phrases on oil, energy

By Abdulwahab El-Gueyed (with photos) VIENNA, June 24 (KUNA) -- Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Abdullah Al-Badri on Wednesday warned OPEC members of the use of oil and energy terminology that does not correspond with the organization's policies.
Some common phrases in oil and energy-related media reports are used to question the organization's leading role in achieving stability in global markets, he viewed, expressing regret that the media outlets of OPEC member states were using them.
Bringing up an example, he mentioned the word "cartel," which is a combination of independent business organizations formed to regulate production, pricing, and marketing of goods by the members.
Despite being a production regulator, Al-Badri noted that OPEC has never been a price regulator, and that global supply and demand have forever been the main factor behind the rise and fall of prices. (end) amg.sd KUNA 242116 Jun 09NNNN