OPECon-OPEC cooperation to take institutional form

摘要

OPEC Secretary General Mohammed Barkindo confirmedin February that OPEC is drafting an agreement thatwould institutionalize the producer group’s oil marketcooperation with Russia and other allies beyond theircurrent output cut agreement, which expires at the endof the year.Earlier UAE Energy Minister Suhail al-Mazrouei wasreported by The National, a UAE newspaper, as saying:“The aim is together with the secretary general to puttogether a draft agreement for this group to stay togetherfor a longer time,” adding that it was “a work in progress”.Mazrouei, who currently holds the rotating OPECpresidency, said that he hoped the pact could be signedby the end of the year.