OPEC Is at ‘Hardest’ Stage in Its History, Chief Barkindo Says
- Secretary-general comments after meeting Iraqi oil minister
- Minister Al-Luaibi ‘optimistic’ nations can reach output deal
OPEC's Barkindo Plans Iraq Visit Over Output Plan
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OPEC Secretary-General Mohammed Barkindo said the 14-nation group is facing its toughest challenge as members debate oil-production cuts needed to balance the market.
“OPEC has gone through good times and conditions for more than half a century and hard ones too, and the current stage is the hardest one,” Barkindo said during a visit to Baghdad in remarks distributed by Iraq’s Oil Ministry. OPEC is working hard on a solution to stabilize the market, he said after meeting Oil Minister Jabbar Al-Luaibi for talks.