MOSCOW (Sputnik) – OPEC Secretary General Mohammed Barkindo has welcomed the new deal reached during the extraordinary meeting of the OPEC-non-OPEC oil producers as “historic” in their volume and duration and potentially leading to a global alliance inclusive of G20.
Earlier in the day, the OPEC+ oil producers agreed to a new deal stipulating a collective reduction in output in a bid to stabilize the market.
The statement quoted Barkindo as describing the video conference itself as “historic,” given the extraordinary effects caused by the COVID-19 pandemic on the global economy and oil demand. They required “prompt and decisive response” by the OPEC+ members, he said.
The statement further quotes Barkindo as saying that the OPEC+ deal has “turned a new historic page in the world of oil.”
Earlier, Russian President Vladimir Putin held separate telephone talks with US President Donald Trump and the king of Saudi Arabia, Salman bin Abdulaziz Al Saud. The leaders discussed the newly accepted OPEC+ deal and exchanged their views on the oil market situation. After the talks, Trump congratulated both leaders on “great deal for all”.
The OPEC+ finalized deal accepted on the group online meeting earlier in the day envisages cutting the oil output by 10 million barrels per day and will become effective 1 May.
Sourse: sputniknews.com
