Thursday, 11 August 2022 | 11:20
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OPEC Sec Gen says we should tread a fine line as not to consume all oil reserves

Friday, 05 August 2022 | 20:00

The Organization of Petroleum Exporting Countries (OPEC) should tread a fine line as not to consume all oil reserves, the Organization’s Secretary General Haitham al-Ghais told Al-arabiya TV on Thursday.

Al-Ghais also commented on OPEC’s decision on Wednesday to only increase production by 100,000 barrels per day by saying: “we aim to test market reaction”.

The secretary general also said the organization was not in a competition with Russia saying: “the market has room for all”, ading even with the discounts we heard Russia is giving to Asia.
Source: Reuters (Reporting by Alaa Swilam and Lilian Wagdy; Writing by Alaa Swilam; editing by David Evans)

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