March 20 (Reuters) - Libya’s oil minister said on Monday
that approval of the No Oil Producing and Exporting Cartels Act,
known as NOPEC, by the U.S. Congress will lead to instability in
the international oil market.
“OPEC+ is trying to achieve the stability of the market via
determining the supply quantities not the prices,” the minister,
Mohamed Oun, said in comments during a meeting with the Algerian
ambassador in Tripoli.
The No Oil Producing and Exporting Cartels bill is intended
to protect U.S. consumers and businesses from engineered oil
spikes.
(Reporting by Reporting by Moaz Abd-Alaziz, writing by Omar
Abdel-Razek, editing by Susan Fenton)
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