OPEC chief Barkindo encourages OPEC+ to stay the course, remain vigilant

OPEC Secretary General Mohammad Barkindo said OPEC+ participants should “stay the course” regarding the group’s decisions, ahead of an OPEC+ meeting on Thursday where the group is expected to stick to its existing deal of gradual output increases.

Barkindo said that OPEC+ members should remain “vigilant and attentive to ever-changing market conditions,” according to an OPEC statement.

For the latest headlines, follow our Google News channel online or via the app.

OPEC+ will likely stick to plans for a modest increase in oil output in May, several sources close to the talks told Reuters, despite a surge in prices due to the Ukraine crisis and calls from the United States and others for more supply.

“We urge global leaders to ... once again ensure an unhindered, stable and secure flow of energy to the whole world,” Barkindo said in reference to recent market developments.

Read more: Oil prices rebound on tight supply, prospects of new Russia sanctions