OPEC members determined to maintain ‘relative stability’ beyond 2020: OPEC Secretary General

Members of the Organization of the Petroleum Exporting Countries (OPEC) have committed that the ‘relative stability’ in the oil market is sustained beyond 2020, said OPEC Secretary General Mohammad Sanusi Barkindo.

“I have been hearing resounding calls of all the players that they are determined not to allow a relapse to the downturn that we just navigated out of. Meaning they will do whatever is possible within their powers to ensure that this relative stability is sustained beyond 2020,” Barkindo said while speaking at the third India Energy Forum by CERAWeek.

“All the leading producers are committed to this. They have repeated this continuously and just yesterday the Kingdom of Saudi Arabia and the Russian Federation in Riyadh reiterated their commitment to this stability in market,” Barkindo said.