OPEC Secretary General predicts market balance in the second half of 2017



27/04/2017 06:11 | Number of readings: 1


Trend Press


The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) predicted the balance of the global market during the second half of this year.

In a statement to Bloomberg, Mohamed Barkindo told a conference in Paris on Thursday that the organization was very satisfied with the commitment to reduce production, as well as the acceleration of demand growth for crude.

Oil producers from OPEC and abroad are due to meet on May 25 in Vienna to discuss the decision to extend the cut production agreement.

Brent crude fell 1.1 percent to $ 49.07 a barrel at 12:08 pm GMT. Jh

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