It is too early for the Organisation of Petroleum Exporting Countries (OPEC) to discuss deeper oil output cuts in spite of the decline in oil prices, OPEC Secretary-General Mohammed Barkindo was quoted as saying by Russian News Agency TASS on Monday.

Secretary General of OPEC Mohammed Barkindo

OPEC is counting on Russia to help soothe tensions between Iran and Saudi Arabia in order to help the global oil market stabilise, Barkindo was quoted by TASS as saying.

Vanguard