RIYADH: The Gulf Cooperation Council has reiterated its resolve to collaborate with oil-producing nations to stabilize global energy markets and ensure secure and stable supplies. The confirmation was made during a gathering hosted by GCC Secretary-General Jasem Al-Budaiwi in Riyadh for the secretary-general of the Organization of the Petroleum Exporting Countries, Haitham Al-Ghais. The reception took place on Feb. 20 at the General Secretariat headquarters in Riyadh, the Saudi Press Agency reported. During the meeting, ways to enhance cooperation between the GCC and OPEC in several areas were discussed, specifically the continuous coordination of oil policies between the GCC and the organization. This coordination aims to ensure secure and stable energy supplies, especially in light of the rapid regional and international developments, as well as circumstances that have impacted global energy markets. Al-Budaiwi praised OPEC for its significant contributions and indispensable role in ensuring stability and equilibrium in the oil markets and for its proactive approach to addressing future challenges in collaboration with member nations. On Feb. 20, the price of OPEC basket of 12 crudes stood at $82.82 a barrel, compared with $82.89 the previous day, according to calculations by the organization’s secretariat, published on its website on Feb. 21. The Brent crude oil benchmark has risen about 6 percent since the start of the year as attacks on shipping in the Red Sea have raised supply fears, with January outages in major non-OPEC oil-producing countries such as the US adding to concerns.