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 second day of the 6th Global Energy Prize Summit will be held during the 'Russian Energy Week' Energy Efficiency and Energy Development International Forum.
A delegation from Oman will take part in the events of Russian Energy Week (REW), Ambassador Extraordinary and Plenipotentiary of the Sultanate of Oman to the Russian Federation Yousuf Issa Ali Al Zadjali said. The delegation will include Deputy Minister of Oil and Gas of the Sultanate of Oman Salim bin Nasser bin Said Al Aufi. The 'Russian Energy Week' Energy Efficiency and Energy Development International Forum will be held in Moscow on 3–7 October 2017. Discussions of the situation on global oil markets and issues in the oil and gas industry are planned as part of the REW business programme.