October 11, 2018 / 9:07 AM / 13 days ago

OPEC's Barkindo says very concerned about spare oil capacity

LONDON (Reuters) - OPEC Secretary-General Mohammad Barkindo said on Thursday that oil producers are very concerned about spare output capacity amid a reduction in energy-industry investment.

OPEC Secretary General Mohammad Barkindo speaks during a session of the Russian Energy Week international forum in Moscow, Russia October 4, 2018. REUTERS/Sergei Karpukhin

“We are very concerned,” Barkindo said in response to a question about spare capacity, citing a continued decline in oil industry investment resulting from the market downturn.

Barkindo, speaking at the Oil & Money conference in London, said earlier that he wanted to ensure there is no shortage of crude in the market.

Reporting by Alex Lawler; Writing by Dale Hudson

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below