Barkindo’s remark is coming a day before meeting allies, led by Russia, to discuss output levels for February.
Browsing: Mohammad Barkindo
The Secretary General of the organisation, Mohammad Barkindo, stated this in Vienna while speaking against the backdrop of mass mobilisation of civil society campaigns against the oil industry.
Following geopolitical conflicts, the US has placed sanctions on Iran and Venezuela, who are both founding members of OPEC.
The Nigerian head of the Organisation of Petroleum Exporting Countries, Mohammad Barkindo, will make a rare address in the United Kingdom when he appears at a major conference to be hosted by one of the country’s most prestigious universities.
OPEC and its allies do not rule out taking further action at their next meeting in April should oil inventories build up in the first quarter, OPEC’s secretary general told Reuters.
Equities dropped worldwide after the US Federal Reserve raised rates and maintained most of its guidance for additional hikes over the next two years, dashing investor hopes for a more dovish policy outlook.
Barkindo, who spoke at the IHS CERA conference urged producers and companies to increase their production capacities and invest more to meet current demand.
Al Mazrouei, who is also the Minister of Energy and Industry, United Arab Emirates said this at the opening of the 7th OPEC International Seminar on Wednesday in Vienna, Austria which has “Petroleum- Cooperation for Sustainable Future” as its theme.
Earlier in the day, Trump wrote on Twitter that the oil prices were “artificially very high,” accusing OPEC of being behind it.