Comments by OPEC secretary general Barkindo
- Market not reacting in a real manner
- Oil market is currently well supplied
- Says that market is being largely driven by decisions taken outside of OPEC+
The last comment there is in reference to Trump's criticism of OPEC, in which he's indirectly blaming the sanctions that are being applied to Iran on the latest move higher in oil prices. In trading today, oil has been one of the heavier losers as risk assets in general are weaker on the back of the global equities selloff:
WTI is now down by 1.9% on the day just off the lows in the last hour to $71.82. That in turn is helping to anchor equities even more as oil-related companies are among the worst performers in European equities trading today.
