We don’t want to jeopardise recent oil price rebound – OPEC
The Secretary General of the Organisation of Petroleum Exporting Countries, Dr Mohammad Barkindo, has said OPEC and its allies do not want to jeopardise the recent turnaround in the global oil markets.
The international oil price benchmark, Brent crude, which fell below $19 per barrel in April for the first time since January 2002, has risen above $30 per barrel in recent weeks. It stood around $35 per barrel on Wednesday.
Barkindo spoke on Wednesday during a videoconference meeting with Venezuela’s Minister of Petroleum, Mr Tareck Aissami, where they discussed recent oil market development and the upcoming June ministerial meetings.
He highlighted the vital role Venezuela played in the establishment of OPEC in 1960, helping to bring together the five founders around the premise of cooperation, with a commitment to safeguard their legitimate national interests and ensure stability in the global oil market.
The endorsement by 24 OPEC and non-OPEC producers of the ‘Charter of Cooperation’ at the ministerial meetings in July 2019 during the Venezuelan Presidency of OPEC in 2019 is a legacy that the government and people of Venezuela should be extremely proud of, according to Barkindo.
He briefed the minister on the high level of commitment, motivation and dedication of OPEC and other producing countries, in terms of adhering to the production adjustments and providing a platform for recovery and growth in the coming months and years.
“We need to remain steadfast, attentive and continue with the sense of purpose that all participants have shown since the April Ministerial Meetings. We do not want to jeopardise the turnaround we have witnessed in recent weeks,” he said.
