OPEC chief ‘confident’ countries to meet oil production cuts
ABU DHABI, United Arab Emirates — The head of OPEC said on Thursday that he remains “confident” that the cartel and outside members will stick to an agreement to cut production to help boost oil prices.
The comments by OPEC Secretary-General Mohammad Sanusi Barkindo of Nigeria come as the cartel and nonmembers try to stick to the landmark deal after oil prices collapsed last year.
OPEC agreed in late November to cut its production by 1.2 million barrels a day, the first reduction agreed to by the cartel since 2008. Nearly a dozen other countries pledged in December to cut an additional 558,000 barrels a day.
“I remain very confident with what I have seen in the last several months,” Barkindo said at the Atlantic Council’s Global Energy Forum in Abu Dhabi. “The level of commitment from both sides … is unparalleled.”