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OPEC not in the business of fixing oil prices, says Mohammad Barkindo

OPEC and a group of non-OPEC countries including Russia, an alliance known as OPEC+, are reducing oil output in 2019 to avoid a potential supply glut that could weigh on prices

Reuters  |  Cairo 

OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices when asked on Monday to comment on a U.S. House committee passing a bill targeting OPEC oil supply cuts. A US House of Representatives committee approved a bill on Thursday that would open up the Organization of the Petroleum Exporting Countries to antitrust lawsuits, but it was uncertain if the measure would be considered by the full chamber. "OPEC is neither a cartel nor involved in the business of fixing oil prices," Barkindo told Reuters. "It would be ...

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First Published: Mon, February 11 2019. 19:17 IST
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