KUWAIT, Feb 25 (KUNA) -- Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) Abbas Al-Naqi lauded Saturday Kuwait's significant role achieving stability in the world oil market.

"Through its balanced oil policy and efforts to secure oil demands, Kuwait helped achieve stability on global market," Al-Naqi said in a press statement here on the occasion of Kuwait's national celebrations.

He hailed Kuwait as a key player in global oil industry.

"Kuwait is one of the world's biggest oil producer and exporter and has a huge oil reserve," Al-Naqi said, adding that Kuwait is one of the founders of the Vienna-based Organization of Petroleum Exporting Countries (OPEC)." He highlighted the active role played by Kuwait in support of joint Arab action at all levels.