OPEC expects oil balance to accelerate
11:47 - 13/11/2017
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OPEC Secretary General Mohamed Barkindo predicted on Monday that the oil market will regain its balance at an accelerated pace with a significant drop in global oil inventories and strong demand for crude.
"He is confident that the oil sector and the global economy are benefiting from an agreement to reduce production between OPEC and major independent producers," Barkindo said at an energy conference held by Reuters.
OPEC, Russia and nine other producers have cut their total production by 1.8 million bpd since last January, and the deal is in effect until March 2018. 25 /