Barkindo says Trump did not pressure OPEC/non-OPEC members to increase oil output - OrientEnergyReview

Barkindo says Trump did not pressure OPEC/non-OPEC members to increase oil output

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The Secretary-General of OPEC, Muhammad Barkindo, has dismissed suggestions that pressure by Donald Trump, U.S. President, played a role in OPEC’s decision to increase oil production.

Mr Barkindo said this in an interview with the News Agency of Nigeria, on Sunday after the OPEC and non-OPEC ministers had on Saturday agreed to increase oil supplies, which remained unchanged for18 months. He said the decision to increase oil production by one million barrels a day, starting July 1, 2018, was taken without political influence.

It will be recalled that Mr Trump had on April 20, June 13 and again on June 22 as OPEC was concluding it’s meeting on whether to hold or increase crude oil supply, registered his displeasure with the current high oil price and OPEC’s production levels on social media platform; Twitter.

Reacting to this, Mr Barkindo said, “We remain focused as an unpolitical organisation and will remain focused on our core responsibility of trying to manage the market, especially the instrument of supply management to maintain stability at all times.”

Source: Premium Times

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