OPEC Likely to Extend Production Cut Deal, Says Saudi Energy Minister

20 Apr 2017   OPEC

OPEC is likely to reach an agreement to extend the group’s production cuts into the second half of 2017, Saudi Arabia’s energy minister said Thursday. Saudi support is essential for the 13-member Organization of the Petroleum Exporting Countries to renew its agreement at its next meeting, in Vienna on May 25. The group committed last year to cut about 1.2 million barrels of oil a day in a bid to bring a vast global…

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