OPEC Secretary-General Berkind said in an energy dialogue with the European Union (EU) that OPEC “has nothing to do” regarding the supply crisis in the international crude oil market following Russia’s invasion of Ukraine.
Secretary-General Berkind told the EU’s executive body, Commissioner Simson (in charge of energy), that the supply of Russian crude oil lost due to current and future sanctions and non-buying by consuming countries might exceed 7 million barrels a day. He claimed that he was sexual and far exceeded the production capacity that OPEC might take over.
OPEC’s document, confirmed by Bloomberg, said OPEC might leverage its existing surplus capacity to support the crisis, while Secretary-General Berkind was political rather than supply-demand. He argued that the factors were shaking the market and there was little room for OPEC to respond.
At the beginning of the high-level meeting of the regular dialogue between the EU and OPEC, he said, “These crises have caused very volatile market movements. It is a factor other than fundamentals that OPEC has nothing to do. I have no choice but to do it. “
Secretary General Berkind
Photographer: F. Carter Smith/Bloomberg
Original title:OPEC Tells EU That Russia Oil Crisis Is Beyond Its Control､OPEC Tells EU It’s Impossible to Fully Replace Russia Exports （抜粋）
