OPEC secretary general Mohammad Barkindo speaking in an interview with Bloomberg TV
- But sees return to a stable market
- Working on a permanent framework between OPEC and its allies
- Seeing a high level of conformity with regards to production cuts
- Working on a continuous strategy to restore stability and sustain it beyond current production cut deals
- Fundamentals of oil has not been as strong as it is now
- Strong fundamentals and positive global growth is helping to drive prices higher
- Doesn't see any signs of a slowing economy in China
Some general comments about the oil market. As always, OPEC members go with the same old agenda. When prices are up, it's due to fundamentals. When it's down, it's because of speculators.
Brent oil continues to surge higher today, now at $63.96 per barrel - following yesterday's news that the North Sea Forties pipeline system will be shutdown for several weeks for repair works.
