OPEC and its allies are displaying a “renewed commitment” to reach an accord that will stabilize oil markets hit hard by the coronavirus, the group’s top official said.
With their next meeting just weeks away, OPEC and its partners are showing no impetus for stronger action to support oil prices.
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
The boss of the Organisation of Petroleum Exporting Countries (OPEC) has commended Scotland on its efforts to transition to cleaner energy, but added that "all types of energy will be needed".
Opec’s Secretary General Mohammad Barkindo sat down to discuss the steps to build a consensus to extend production cuts. The industry veteran also discusses market impact surrounding the uncertainty of the Iran nuclear deal. Watch the video to find out more.