Diplomatic Channel

Barkindo warns of underinvestment in global oil industry

The Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia last year began withholding 1.8 million barrels per day (bpd) of supplies to tighten the market and prop up prices that in 2016 fell to their lowest in more than a decade at less than $30 a barrel. Both Russia and […]

Economic Report

OPEC’s scribe predicts balanced oil market

OPEC Secretary-General Mohammad Barkindo said on Thursday there is no doubt that in the wake of efforts by global oil producers to curb production, the crude market is rebalancing, and doing so at an accelerating pace. “There is no doubt that this market is rebalancing at an accelerating pace,” Barkindo said in a speech at […]