OPEC Sec. General on possibility of output freeze: Anything is possible in present conditions

OPEC Secretary General Mohammad Sanusi Barkindo crossed the wires last minutes via Al-Hayat, backing the case for further efforts to manage oil production levels.

Key Quotes:

“Increased understanding among OPEC, Non-OPEC producers for a move to manage production”

“Market forces alone are not enough to correct prices”

‘No action approach’ doesn’t allow ‘just price’ for all parties

"Nothing is not possible in the present condition" in response to a question on the possibility of an Oil output freeze