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The Wall Street Journal: OPEC official says output-reduction plan ‘has taken far too long’

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OPEC’s Mohammad Barkindo speaks in Istanbul on Oct. 11, 2016.

VIENNA — The morning after OPEC officials deadlocked about how to implement oil-production cuts, the cartel’s leader on Saturday warned of dire consequences for the oil industry if the group doesn’t move forward with a plan to reduce output.

In a speech here Saturday morning, Mohammad Barkindo, secretary-general of the Organization of the Petroleum Exporting Countries, said “the recovery process [in rebalancing oil markets] has taken far too long and we cannot risk delaying the adjustment any further.”

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