Opec Logo

28 Mar 2018

OPEC Secretary General speaks at 4th Iraq Energy Forum

Baghdad, Iraq, 28 March 2018--OPEC’s Secretary General, HE Mohammad Sanusi Barkindo, took part in a plenary session entitled “Energy, Economy and Geopolitics” at the 4th Iraq Energy Forum on Wednesday, 28 March 2018.

HE Barkindo was joined on the panel by HE Jabbar Ali Hussein Al-luiebi, Iraq’s Minister of Oil; Barham Salih, former Prime Minister of the Kurdistan Region of Iraq and former Deputy Prime Minister of the central government in Baghdad; Adnan al-Janabi, a Member of Iraq’s Parliament; and Alan Eyre, the US State Department’s Director of Middle East/Asia at the Bureau of Energy.

The Secretary General offered brief introductory remarks about current oil market developments and described the broad market outlook for the period ending 2040. He also spoke about the prospects for oil demand in the short-, medium- and long-term. He also briefed the audience on the historic ‘Declaration of Cooperation’, which sought an adjustment in global oil production of 1.8 mb/d. Signed by 24 OPEC and non-OPEC countries on 10 December 2016, its ongoing implementation has seen a reduction in the stock overhang and a return to balance in the market.

The session was held with the presence of Prime Minister Haider al-Abadi and other senior Iraqi officials, as well as ambassadors and members of the Iraqi Parliament. It was moderated by John Defterios, CNN’s Emerging Markets Editor.