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.
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.