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.
• 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.