More from Author Ben Oakley here: https://globelivemedia.com/author/ben-oakley/
File photo of OPEC at its Vienna headquarters. Apr 9, 2020. REUTERS / Leonhard Foeger
LONDON, Jan 13 (Reuters) – Saudi Arabia’s voluntary cut in its oil production will help the market navigate through low seasonal demand during the first quarter of the year, the OPEC secretary-general said at an industry event. on Wednesday.
Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC), surprised the market a few days ago by promising to cut its pumping by 1 million more barrels per day in February and March.
Mohammad Barkindo, who spoke on the Gulf Intelligence virtual forum, said that global crude inventories – from countries inside and outside the OECD – are “very high.”
(Reporting by Ahmad Ghaddar and Shadia Nasralla; edited in Spanish by Carlos Serrano)
Ben Oakley is the guy you can really trust when it comes to Mainstream News. Whether it is something happening at the Wall Street of New York City or inside the White House in Washington, D.C., no one can cover mainstream news like Ben. Get a daily dose of Trustworthy News by Ben Oakley, only at Globe Live Media.