Worst Days Of Global Oil Crisis Over – OPEC Chief

The Organization of the Petroleum Exporting Countries (OPEC) Secretary General, Mohammed Barkindo on Monday said the worst days of the oil crisis are already over but the challenge remains how to consolidate the gains.

The OPEC chief, who spoke in Abuja, during a visit to the Minister of State for Petroleum, Dr Emmanuel Ibe Kachikwu said on the recent deal between members and non members of OPEC to cut production, that: “We remain optimistic that the worst is over for the circle. The challenge now is how to solidify this platform of 24. I must report to you that the signals we are getting from the non-OPEC side is highly positive.”

On Nigeria he said ”going forward, this decision is for six months and therefore, this country continues to be exempted for this six months. And we will continue to pray and hope that they will recover their production and rehabilitate their production facilities and return to the market fully because the market needs every barrel that Nigeria can produce or Libya or the Islamic Republic of Iran.”

Author: NewsAdmin

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