OPEC Sec Gen says we should tread a fine line as not to consume all oil reserves
The Organization of Petroleum Exporting Countries (OPEC) should tread a fine line as not to consume all oil reserves, the Organization’s Secretary General Haitham al-Ghais told Al-arabiya TV on Thursday.
Al-Ghais also commented on OPEC’s decision on Wednesday to only increase production by 100,000 barrels per day by saying: “we aim to test market reaction”.
The secretary general also said the organization was not in a competition with Russia saying: “the market has room for all”, ading even with the discounts we heard Russia is giving to Asia.
Source: Reuters (Reporting by Alaa Swilam and Lilian Wagdy; Writing by Alaa Swilam; editing by David Evans)