US: OPEC Secretary says OPEC does not fix prices

According to a report from Reuters, OPEC Secretary-General Mohammad Barkindo said the exporting group was “not in the business of manipulating or fixing (oil) prices,” when asked on Monday, February 11, to comment on a US House committee passing a bill targeting OPEC oil supply cuts.

A US House of Representatives committee approved a bill on Thursday that would open up the Organization of the Petroleum Exporting Countries to antitrust lawsuits, but it was uncertain if the measure would be considered by the full chamber.

“We are not in the business of manipulating or fixing prices, therefore it would be a misjudgment to accuse us of such,” Barkindo said on the sidelines of an energy forum in Cairo.

Full Content: Reuters

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