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 Organizing Committee in charge of preparing for and holding the 'Russian Energy Week' Energy Efficiency and Energy Development International Forum in Moscow on 4–7 October 2017 held a regular meeting chaired by Russian Minister of Energy Alexander Novak.
The International Mayors’ Summit on Energy Efficiency and Sustainable Growth in Cities was held as part of the first ‘Russian Energy Week’ Energy Efficiency and Energy Development International Forum.
The international Russian Energy Week Energy Efficiency and Energy Development Forum will feature a Youth Day this year under the auspices of the Ministry of Energy of Russia and the Government of Moscow. The Youth Day’s major aim is to deliver the biggest awareness and communications platform in the industry, bringing together industry representatives and young people from the world’s leading universities and institutes.