Comments from the OPEC Secretary General

He sounds like a forex trader trying to talk away losses.

Other comments:

  • We don't anticipate recession in global economy
  • OPEC more optimistic on oil market than other agencies
  • OPEC+ cooperation charter is not a treaty, it is for eternity
  • OPEC statute is supreme to OPEC+ cooperation charter

WTI is down 59-cents to $58.49 today with Brent down 71-cents to $64.37. OPEC would really like to see Brent comfortably above $70.