OPEC pressures US oil firms over high production

OPEC is asking American oil producers to meet with members of the group and to play a role in cutting global oil production.

The secretary general of the Organization of the Petroleum Exporting Countries (OPEC) told Reuters on Tuesday that he wants to meet with independent American oil firms and investors to discuss the oil market, which has been stung by low prices driven in part by increasing production in the United States.

“Both groups — independents and hedge funds — have become increasingly important in the energy markets,” Secretary General Mohammed Barkindo said. “We cannot continue to live and operate in isolation. The world of energy is undergoing a massive structural transformation, energy transition is real


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