OPEC’s Barkindo says has Putin’s word Russia won’t flood oil market – CNBC

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OPEC Secretary General Mohammad Barkindo listens during a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016. REUTERS/Heinz-Peter Bader

LONDON, Feb 13 (Reuters) – OPEC Secretary-General Mohammad Barkindo told CNBC on Tuesday he has President Vladimir Putin’s word that Russia will not flood the oil markets.

* Barkindo told CNBC: “I have had and received assurances both from (Energy Minister) Alexander Novak and President Putin that they would remain committed to the OPEC/non-OPEC collaboration under the declaration of cooperation.”

* Barkindo also said recent falls in the oil and stock markets were “just a blip”. “So the fundamentals are so strong we do not expect any hiccup along the way similar to what we had or we saw last year.”

* He said he was not concerned by rising competition among OPEC, Russia and the United States in the Chinese market: “The growing concern now in the industry is whether we have enough capacity and whether we are ready and willing to continue to provide, to supply this market with this growing demand.”

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Obodo Ejiroghene Lucky [Chief Economist] Mr. Ejiroghene Obodo is an economist with over 15 years in Journalism, which cuts across Research and Data analysis. Mr Obodo, a graduate of Columbia University, New York City, with a Degree Journalism Graduate School Field Of Study Citi Journalism Seminar Ejiro was the Online Editor at BusinessDay Media, where he oversees the online editorial department. Proir to this Mr. Ejiroghene Obodo, also known as Lucky, served as a Senior Research Analyst at BusinessDay Research and Intelligence Unit. Prior to this, he was an Analyst at the firm. Ejiro has won series of International awards which includes the most coveted awards Citi Journalistic Award for 2013 See his professional profile listed on Bloomberg

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