OPEC Sec Gen says OPEC+ decision to cut oil production ‘correct’

CAIRO Oct 15 ― The Organization of Arab Petroleum Exporting Countries (OAPEC) secretary general said on Saturday that the OPEC+ decision to cut oil production is correct, and was taken at the right time.

The decision took into account the uncertainty surrounding the performance of the global economy, and was in line with the successful approach taken by OPEC+ in taking proactive steps to avoid any oil market imbalances, especially on the demand and supply sides, OAPEC secretary general Ali bin Sabt added in a statement. ― Reuters pic