Mohammed Barkindo: “We have taken on full responsibility for restoring stability on the oil market”
Barkindo said Russia has taken on a leadership initiative even though it is not an OPEC member, and a consensus has been reached between OPEC countries and non-members of the cartel as a result.
“All of us – both OPEC countries and Russia – share responsibility. We are reliable guarantors of oil supplies to the world market, not only to meet current needs, but also for the foreseeable future”, he added.
The OPEC Secretary General said member countries are honouring their commitments. “Russia has played a decisive role and has fulfilled its obligations by more than 100%, especially over the past two months”, he said.
Barkindo also expressed the common opinion concerning the reduction in oil production: “We have been able to act together for the first time, and we have taken on full responsibility for restoring stability on the oil market for the first time. We have clearly demonstrated that we are committed to maintaining this trend in the future”, Barkindo said.
At the end of his speech, Barkindo emphasized: “The future looks much more attractive than the situation in early January. We are optimistic about the opportunities for cooperation outside of the framework of the agreement to reduce oil production as well”.
The 7th St. Petersburg International Gas Forum started here as part of the Russian Energy Week (REW) Energy Efficiency and Energy Development International Forum.
The Agency for Strategic Initiatives held a business breakfast for foreign partners ‘Business Climate in Russia: Achievements and Challenges?’ in Moscow on 19 December 2017. It was attended by representatives of Russian official and business communities and the expert community, as well as of the diplomatic missions of Argentina, Greece, Malaysia, South Africa, Belarus, etc.
Moscow – Gas Exporting Countries Forum (GECF) Secretary General Mohammad Hossein Adeli has accepted Russian Minister of Energy Alexander Novak’s invitation to take part in the ‘Russian Energy Week’ Energy Efficiency and Energy Development International Forum. A meeting of GECF ministers will also be held as part of the REW business programme.