Badri Sends Soothing Message
Oil demand growth is improving, but OPEC is still mindful of the fragility of the global economy and will not take precipitous action to cut production, pledged OPEC Secretary-General, ‘Abd Allah al-Badri. His 28 January comments came as OPEC basket prices rose above $110/B in the wake of the attack on Algeria’s In Amenas gas facilities and follows a recent IEA report highlighting potential market tightness.