OPEC Chief Encourages OPEC+ to Stay the Course

Wednesday, March 30, 2022

OPEC Secretary General Mohammad Barkindo said OPEC+ participants should "stay the course" regarding the group's decisions, ahead of an OPEC+ meeting on Thursday where the group is expected to stick to its existing deal of gradual output increases.

Barkindo said that OPEC+ members should remain "vigilant and attentive to ever-changing market conditions", according to an OPEC statement.

OPEC+ will likely stick to plans for a modest increase in oil output in May, several sources close to the talks told Reuters, despite a surge in prices due to the Ukraine crisis and calls from the United States and others for more supply.

"We urge global leaders to ... once again ensure an unhindered, stable and secure flow of energy to the whole world," Barkindo said in reference to recent market developments.


(Reuters - Reporting by Ahmad Ghaddar in London and Maha El Dahan in Dubai; editing by Jason Neely)

Categories: Energy Oil Production

Related Stories

Norway Approves Request to Delay Offshore Wind Farm License Application

Norway's Overall Oil, Gas Output Lags Forecast in July

SLB to Support BSP Production Restoration Project

Current News

Norway Approves Request to Delay Offshore Wind Farm License Application

TenneT Completes Drilling, Installation of Protective Conduits for Wind Farms

Alexandre de Gusmão FPSO Reaches Peak Production

Transocean Awarded $300 Million Contract for Ultra-Deepwater Drillship

Subscribe for OE Digital E‑News