403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
OPEC+ talk over production cuts in Vienna conference
(MENAFN) The conference of the Organization of the Petroleum Exporting Countries and allies led by Russia, together called OPEC+, which is planned to happen today in Vienna is an important one and “will take the right decision,” as stated by the UAE Energy Minister Suhail al- Mazrouei.
OPEC+ producers might confirm a deep cut in their production target, cutting deliveries in an already tight market regardless of US stress to produce more, in line with a Reuters report.
Citing OPEC+ sources, Reuters announced that OPEC+ will discuss output cuts of up to 2 million barrels a day, and a cut of that magnitude will be the biggest since the epidemic.
Before the conference, oil costs weakened a little.
Brent crude decreased 0.04 percent to USD91.76 per barrel at 10.50 AM Saudi time, while US West Texas Intermediate declined 0.09 percent to USD 86.43 a barrel.
OPEC+ producers might confirm a deep cut in their production target, cutting deliveries in an already tight market regardless of US stress to produce more, in line with a Reuters report.
Citing OPEC+ sources, Reuters announced that OPEC+ will discuss output cuts of up to 2 million barrels a day, and a cut of that magnitude will be the biggest since the epidemic.
Before the conference, oil costs weakened a little.
Brent crude decreased 0.04 percent to USD91.76 per barrel at 10.50 AM Saudi time, while US West Texas Intermediate declined 0.09 percent to USD 86.43 a barrel.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment