OPEC's Barkindo: No reason to doubt Russia's commitment

Eren Sengezer FXStreet

OPEC Secretary-General Mohammad Barkindo announced that they will be publishing a statement on the outcome of the informal meeting that took place Thursday evening.

When asked what OPEC will do if non-OPEC producers do not agree to additional output cuts, "I don’t share your pessimism. There is no reason to doubt Russia's commitment," Barkindo added.

WTI reaction

Crude oil prices largely ignored these remarks. The barrel of West Texas Intermediate (WTI) was last seen trading at $46.10, erasing 2.3% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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