OPEC and non-member oil producers expect the market to rebalance in the third or fourth quarter of 2018, RIA Novosti news agency has reported, citing Russian energy minister Alexander Novak.

 

The producer group agreed in December 2016 with 11 non-OPEC oil producing countries to cut output by a combined 1.8 million barrels per day for a period of six months.

 

The deal – which aimed to tackle a global supply glut and prop up prices – will be in effect until the end of 2018, following two extensions in May and November last year. 

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request