Middle-east Arab News Opinion | Asharq Al-awsat

DAVOS-OPEC Sec Gen says OPEC Would Act Again If Needed | ASHARQ AL-AWSAT English Archive 2005 -2017
Select Page

DAVOS, Switzerland, (Reuters) – OPEC Secretary General Abdullah al-Badri said on Thursday OPEC would not hesitate to act again if the oil price remains low.

The producer group next meets in March in Vienna and Badri said it was still monitoring the impact of cuts totalling 4.2 million barrels per day, which he said were being 100 percent implemented.

But if the price remained low, OPEC would not hesitate to act again.

“OPEC will not hesistate … we are still reviewing,” he told the World Economic Forum.

Oil prices are around $40 a barrel and even $50 would be low, Badri said.

“Even with $50 we can not have a decent income for our members, ” Badri said.