OPEC's Barkindo: Oil market relebalancing is work in progress

Omkar Godbole FXStreet Contributor

US shale companies have benefited from the supply-cut efforts from OPEC+ and the oil market rebalancing is still a work in progress, Secretary General of OPEC Mohammed Sanusi Barkindo reportedly said during a Houston energy conference on Monday.

Key quotes by Barkindo and Senior Gulf official (source: Reuters)

The rebalancing of the global oil market is a work in progress.

Supply adjustments will continue through 2019.

We want to see commercial stocks down... global crude and oil products stocks should fall back to a five-year average.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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