OPEC's Barkindo Sees Progress in Oil Cuts as Stockpiles Drop
- ‘Cautiously optimistic’ market is rebalancing, Barkindo says
- Iraq complied with 98% of its promised cut in March: Luaibi
RCMA's Coleman Says OPEC Needs to Extend Cuts
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Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo.
“I remain cautiously optimistic that the market is already rebalancing," Barkindo told reporters Sunday in Baghdad. “We have started seeing stock levels coming down.”