Maintaining stable global oil market conditions isn’t something the Organization of Petroleum Exporting Countries can do alone, a top delegate said Wednesday. OPEC members met Wednesday in Vienna for a regular conference. Acting Libyan Oil Minister Omar Ali El Shakmak, serving as conference chairman, told delegates market stability was the top focus of member states. The acting minister said the cartel expects world oil demand to increase by 1.1 million barrels per day and keeping markets satiated required a global effort. Market stability, he said, benefits all market players. “To achieve this, though, OPEC cannot stand alone,” he said in his address . “It will need the support and contribution of many stakeholders, who must do their part.” The 12 OPEC members combine to produce about 40 percent of the world’s crude oil and their exports represent about 60 percent of the international market. An increase in oil production […]