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Tuesday 20th March 2018

Barkindo: OPEC Does Not Fix Oil Prices

Business

7Dnews London

Mon, 11 Feb 2019 15:05 GMT

OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of manipulating or fixing oil prices, when asked on Monday, February 11th to comment on a US House committee passing a bill targeting OPEC oil supply cuts.

A US House of Representatives committee approved a bill on Thursday, February 7th that would open up the Organization of the Petroleum Exporting Countries to antitrust lawsuits but it was uncertain if the measure would be considered by the full chamber. 

"We are not in the business of manipulating or fixing prices, therefore it would be a misjudgement to accuse us of such," Barkindo said on the side-lines of an energy forum in Cairo.

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