OPEC Secretary General Barkindo: Factors beyond producers’ control are impacting oil market

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OPEC Secretary-General Mohammad Barkindo, speaking at the Oil & Money conference in London, was noted saying that there are many non-fundamental factors influencing the oil market that are beyond oil producers’ control.

Additional quotes:

   •  Wants to ensure that there is no shortage of crude in the market.
   •  Saudi and Russia have added oil since June to restore balance in the market.
   •  Implementation of OPEC’s June decision is a work in progress. 
   •  We are doing all we can within our capabilities.
   •  We are deeply concerned about the spare of capacity.

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