In the economy of October 13, 2017
The World Oil Research Unit at Standard & Poor's Global Plas and the founder of Pira Energy, Gary Ross, said OPEC is likely to extend oil production cuts for six months at its meeting in March.
The Organization of the Petroleum Exporting Countries (OPEC) is unlikely to increase production by one million barrels per day again unless prices rise.
If Saudi Arabia felt that the market needed further cuts in the few hundred thousand barrels, it would.
Ross pointed out that the cuts may become essentially permanent, according to Reuters news agency.