OPEC confirms gradual stability in the oil market through 2018
The Organization of the Petroleum Exporting Countries (OPEC) Secretary-General
Mohamed Barkindo said Tuesday that the global agreement to reduce oil production will help restore stability to the crude markets during 2018.
Barkindo told Azerbaijan's Real TV channel: "We are beginning to see that stability is gradual but returns to the market, Noting that the producer countries participating in the agreement are currently focused on the extension of the agreement as we focus on achieving our goals and during the year we will be able to restore stability to the market. http://economy-news.net/content.php?id=11633
OPEC and other major oil producers led by Russia agreed last November to extend the cut production agreement to about 1.8 million barrels per day until the end of 2018.
The next meeting of OPEC oil ministers and producers from outside the organization, including Azerbaijan, in June (June) 2018. Ministers may decide during the meeting to amend the agreement based on market conditions.