Categories: Business

South Africa president welcomes OPEC decision to focus on price stabilization of oil


Sun, 2022-10-23 17:45

LONDON: South African President Ramaphosa welcomed on Sunday the decision taken by Saudi Arabia and other OPEC countries to focus on price stabilization in their management of oil production.

In a statement, the president said rising oil prices contribute to higher fuel costs in his country which puts further pressure on small businesses, consumers, and households.

“The burden is heavier for the working class and unbearable for the poor,” he said.

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