20:04 GMT20 January 2021
Listen Live
    Get short URL
    0 63

    OPEC Secretary General Mohammad Sanusi Barkindo states that the recently reached oil output freeze already stabilized the market.

    MOSCOW (Sputnik) — The Organization of the Petroleum Exporting Countries' (OPEC) late September agreements on oil output freeze already stabilized the market, OPEC Secretary General Mohammad Sanusi Barkindo said Friday.

    "Already this decision [Algerian deal] has reversed the market trend positively and reduced relative volatility," Barkindo said speaking at the first Meeting of the High-level Committee of the Algiers Accord in Vienna.

    On September 28, OPEC member states agreed on cutting its oil production to 32.5-33 million barrels per day for the whole cartel, however, no exact limits for each country have been placed. The OPEC countries are set to finalize the agreement on oil output freeze at the OPEC summit in Vienna on November 30.


    OPEC to Focus on Oil Output Cuts at Technical Meeting on Friday
    Kazakhstan May Attend OPEC Summit in Vienna in November
    Separate Deals for Certain OPEC States on Output Freeze Stall Talks – BP Russia
    oil output, summit, OPEC, Mohammad Sanusi Barkindo
    Community standardsDiscussion