Supplement, Oil & Energy

OPEC’s Barkindo says he spoke with Texas regulator about oil market

Published : 21 Mar 2020 08:04 PM | Updated : 07 Sep 2020 12:33 AM

OPEC Secretary General Mohammad Barkindo said Friday that he spoke with a Texas oil regulator about the oil market's current conditions and the "possibility of future cooperation."

Barkindo said that the two spoke via teleconference, saying that he and Texas Railroad Commissioner Ryan Sitton were "both concerned with current market developments, including its impact on the security of supply."

Saudi Arabia, the largest oil producer in the Organization of the Petroleum Exporting Countries, said it would boost production to 12.3 million barrels per day, a record, after it and Russia were unable to come to an agreement to curb supply earlier this month.

Barkindo says he discussed his "perspective on current developments, and the possibility of future cooperation," he told Reuters on Friday.