The Commissioner of Railroad commission of Texas Ryan Sitton said on Friday OPEC Secretary General Mohammed Barkindo invited him to attend the next OPEC meeting in June.
“Just got off the phone with OPEC SG Moh Barkindo. Great conversation on global supply and demand. We all agree an international deal must get done to ensure economic stability as we recover from COVID-19,” Sitton said on Twitter.
“He was kind enough to invite me to the next OPEC meeting in June.”
Just got off the phone with OPEC SG Moh Barkindo. Great conversation on global supply and demand. We all agree an international deal must get done to ensure economic stability as we recover from COVID-19. He was kind enough to invite me to the next OPEC meeting in June.
— Ryan Sitton (@RyanSitton) March 20, 2020
Sitton, one of the three regulators of the Texas Railroad Commission, had said earlier on Friday that the United States should consider implementing oil production limits for oil companies in an effort to stabilize crashing prices amid the coronavirus pandemic.
The hope is that President Donald Trump could negotiate with Saudi Arabia and Russia and convince them to match the cut, said Sitton.
He added that production limits could be implemented quickly, though no one who works at the agency was around the last time the state limited production, in the early 1970s.
“We need to take the time to hear from everybody," he said, adding that he was not yet advocating for the cuts. But “if we can help (Trump) get a deal done, then I think that’s when we do something.”
- With wires
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