OPEC’s Barkindo urges oil producers, companies to invest to meet future oil demand

The Oil and Petroleum Exporting Countries (OPEC) Secretary General Barkindo was reported by Reuters last minutes, as he sees oil inventories falling further in the coming months.

Main Points:

Urges oil producers, companies to invest ‘to meet future oil demand & compensate for annual decline rate’

Oil inventories in Feb below 50m bbl above the 5-year average.

Sees decline trend continuing in coming months.