[Economy] OPEC Seeks Oil Deal as Saudis Open Door for No Output Cut2016-11-28 14:41:24Hit:300
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Written in October 20, 2016
Link >> http://www.bloomberg.com/news/articles/2016-11-27/opec-push-for-deal-sends-algeria-venezuela-ministers-to-moscow
* Summary
OPEC is embarking on a last-ditch diplomatic push to reach a production cut, with ministers flying to Russia for talks, as Saudi Arabia for the first time suggested the oil-club doesn’t necessarily need to curb output.
The Organization of Petroleum Exporting Countries will meet on Wednesday in Vienna to try finalize the terms of its first production decrease in eight years. Yet the group remains divided about how to share the curbs internally and Khalid Al-Falih, the Saudi oil minister, has opened the door to leave the group’s production unchanged.
Link >> http://www.bloomberg.com/news/articles/2016-11-27/opec-push-for-deal-sends-algeria-venezuela-ministers-to-moscow
* Summary
OPEC is embarking on a last-ditch diplomatic push to reach a production cut, with ministers flying to Russia for talks, as Saudi Arabia for the first time suggested the oil-club doesn’t necessarily need to curb output.
The Organization of Petroleum Exporting Countries will meet on Wednesday in Vienna to try finalize the terms of its first production decrease in eight years. Yet the group remains divided about how to share the curbs internally and Khalid Al-Falih, the Saudi oil minister, has opened the door to leave the group’s production unchanged.