By: Ramy Sameeh
Abu Dhabi – Mubasher: OPEC countries will invest $50 billion in oil projects till 2020, according to Mohammed Sanusi Barkindo, Secretary General of OPEC.
OPEC seeks to achieve stability in global oil markets, Barkindo noted on the sidelines of the 19th edition of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) held in Abu Dhabi.
He highlighted the importance of cooperation between OPEC and non-OPEC nations to balance the market.
“OPEC is committed to a deal made in Algiers in September to cut oil output,” he said, adding that “the rebalancing process will be brought forward in 2017".
Translated by: Julian Nabil
