The Organization of the Petroleum Exporting Countries (OPEC) will continue with its supply adjustments for the oil market, the OPEC Secretary General said on Saturday.
“We will continue to do what we know best to ensure we attain stability in the oil market on a sustainable basis,” Mohammad Barkindo said in a webinar organised by Italian think-tank ISPI.
Oil prices fell on Thursday after OPEC and its allies stuck to their existing policy of monthly oil output increases despite fears of a release from US crude reserves and the new Omicron coronavirus variant would put renewed pressure on prices.
Barkindo said in terms of oil demand the estimate at the moment was for a growth of 5.7 million barrels per day.
