Opec Secretary-General Abdalla el-Badri said Monday that the fledgling production “freeze” agreed by three key Opec member countries and Russia last week could pave the way for future action to balance the oversupplied global oil market. “If all countries, Opec and non-Opec … agree to freeze production, then we will know the day, the production of the country and then from there we will watch out how this will develop in three or four months,” el-Badri told journalists on the sidelines of the IHS CeraWeek conference in Houston (OD Feb.19’16).
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