October 11, 2018 / 9:12 AM / 7 days ago

OPEC's Barkindo says very concerned about spare oil capacity

LONDON (Reuters) - OPEC Secretary-General Mohammad Barkindo said on Thursday that oil producers are very concerned about spare output capacity amid a reduction in energy-industry investment.

“We are very concerned,” Barkindo said in response to a question about spare capacity, citing a continued decline in oil industry investment resulting from the market downturn.

Barkindo, speaking at the Oil & Money conference in London, said earlier that he wanted to ensure there is no shortage of crude in the market.

Reporting by Alex Lawler; Writing by Dale Hudson

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