OPEC Secretary: Saudis have proven to be a reliable source of oil supplies.

OPEC General Secretary Mohammed Barkindo said the Saudis have shown the world that they are a reliable source of oil supplies.


He also said that the rapid moves taken by Saudi Arabia to resume production, was important to reduce the oil price fluctuations after the disturbance of the market following the attack on its facilities.


He said an extraordinary meeting of OPEC members and other oil exporters was unlikely because the Saudis had regained most of their supplies, He said, adding that they had “Overcomed” the incident


He added that the organization is still focusing on maintaining the stability of oil prices and “will do everything necessary to separate oil from politics,” and that “OPEC” expects strong growth in oil demand in the long term, especially from developing countries.


Speaking of risks in the near term, he said that the oil market is focused on the outcome of the US-China trade talks.


He said, while global economic growth data point to a slowdown, these data are not “worrying” and do not show signs of stagnation.


Russian President Vladimir Putin said that Russia will remain a responsible member in the alliance between OPEC and independent producers outside the so-called (OPEC+).