London-based Barclays PLC said it expects OPEC and non-OPEC oil producers to extend the oil output cut deal by six or nine months in the next meeting scheduled for November 30 in Vienna, Reuters reported on Monday.
"Whether or not the countries extend and the duration of the deal are not the relevant questions in our view. We believe the level of the cut is what really matters, and we assign a low likelihood to this detail being announced on November 30," analysts at the bank said.
Brent crude is projected to remain above $60 per barrel (bbl) in Q4 2017, ahead of dropping to $55 bbl next year.
Brent last traded 0.36 percent lower to $63.63 bbl on Monday.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}