OPEC's Barkindo: Oil market relebalancing is work in progress
|US shale companies have benefited from the supply-cut efforts from OPEC+ and the oil market rebalancing is still a work in progress, Secretary General of OPEC Mohammed Sanusi Barkindo reportedly said during a Houston energy conference on Monday.
Key quotes by Barkindo and Senior Gulf official (source: Reuters)
The rebalancing of the global oil market is a work in progress.
Supply adjustments will continue through 2019.
We want to see commercial stocks down... global crude and oil products stocks should fall back to a five-year average.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.