OPEC and its allies are moving to agree to extend oil cuts
11:14 - 30/11/2017
Information / Baghdad ..
OPEC and its outside producer partners will agree at a meeting on Thursday to extend the oil production reduction agreement until the end of 2018, Reuters reported on Thursday.
Under the deal, producers will reduce their supply by about 1.8 million bpd in an effort to boost prices, which will expire in March 2018.
The Organization of the Petroleum Exporting Countries (OPEC) and Russia have indicated that they may retract any extension of the deal when they meet again in June if the market is experiencing feverish rises. Ending / 25