OPEC panel to discuss extending oil cut deal, tracking exports

22 Sep 2017   OPEC

OPEC and non-OPEC nations meeting on Friday will discuss a possible extension of an oil supply cut deal to support prices and will consider monitoring exports to assess compliance. The Organization of the Petroleum Exporting Countries aims to clear a global oil supply glut by curbing output by about 1.2 million barrels per day (bpd). Russia and other non-OPEC producers agreed to cut half as much. The pact runs to the end of March. Ministers on a panel monitoring the deal, which comprises Kuwait, Venezuela and Algeria, plus non-OPEC producers Russia and Oman, are scheduled to meet at 0800 GMT on Friday in Vienna. Oil prices have gained more than 15 percent in the past three months to trade above $56 a […]

Comments are closed.