OPEC Secretary General Abdullah Al-Badri said that oil prices will rebound soon after %50 drop since June 2014. He also defeated OPEC decision of not reducing its supply.
In a speech at the World Economy Forum in Davos, Al-Badri said that if OPEC had reduced its supply, non-member countries would have increased production, forcing OPEC to implement further cuts and lose more market share to rival producers.
'I witnessed that three or four times during my life and it will rebound very soon. OPEC producing policy is not directed against Iran, Russia or the United States of America', Al-Badri said.