OPEC chief says oil cooperation with non-members 'vital'

 

Coordination between members of oil-exporting cartel OPEC and non-member producers is "vital" to rebalance the market, OPEC chief Mohammad Barkindo said today. OPEC chief says oil cooperation with non-members vital Coordination between members of oil-exporting cartel OPEC and non-member producers is "vital" to rebalance the market, OPEC chief Mohammad Barkindo said today. "We believe it is vital that both OPEC and non-OPEC countries come together and take coordinated, action to rebalance this market for the common good of all," OPEC's secretary general said at a forum in Abu Dhabi. OPEC pledged after a meeting in Algiers on September 29 to cut production for the first time in eight years on the back of a sustained depression in global prices. "The agreement underlined the organisation's commitment to sustainability of oil markets," Barkindo said.

 

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