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Coordination ‘vital’ with non-members, says Opec chief

Coordination between members of oil-exporting cartel Opec and non-member producers is “vital” to rebalance the market, Opec chief Mohammad Barkindo said on Monday. “We believe it is vital that both Opec and non-Opec countries come together and take coordinated action to rebalance this market for the common good of all,” Opec secretary general said at a forum in Abu Dhabi. 

Opec pledged after a meeting in Algiers on September 29 to cut production for the first time in eight years on the back of a sustained depression in global prices. “The agreement underlined the organisation’s commitment to sustainability of oil markets,” he said. “We as OPEC remain committed to the Algiers accord,” he said. 
PTI

PTI

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