OPEC Secretary-General Barkindo
OPEC Secretary-General Barkindo is on the news wires:
- likely C# downward revisions of supply going into 2020 especially from United States shale output
- fundamentally global economy range strong
- there is no sign of global economic recession
- Demand numbers for 2020 has potential for an upside swing
- confident OPEC+ members will continue with their agreement in 2020
- some US oil companies see shale output growth in 2020 only up by around 300,000-400,000 BPD. That it is not as high as OPEC optimistic estimates
- Saudi authorities have reassured US that Aramco IPO won’t affect kingdom’s role within OPEC as the biggest producer
- no one in OPEC+ wants to return to where we came from during oil prices downturn
- The Aramco IPO won’t affect Saudi Arabia’s participation in supply adjustments to ensure oil market stability