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DAVOS-OPEC Sec Gen says OPEC Would Act Again If Needed - ASHARQ AL-AWSAT English Archive
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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.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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