Major oil producers led by OPEC have agreed to extend their crude output cuts through March of next year, but that could feed a glut of global supplies once the deal is done.
The Organization of the Petroleum Exporting Countries’ 14 current members and 10 non-OPEC members agreed Thursday to continue their cuts of 1.8 million barrels a day, generally from October 2016 crude production levels, through the first quarter of 2018.
News extracted from : marketpulse.com/20170529/morga…ti-oil-price-forecast-55/
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The Organization of the Petroleum Exporting Countries’ 14 current members and 10 non-OPEC members agreed Thursday to continue their cuts of 1.8 million barrels a day, generally from October 2016 crude production levels, through the first quarter of 2018.
News extracted from : marketpulse.com/20170529/morga…ti-oil-price-forecast-55/
Worldoils Oil and Gas Equipment Market Place Market Place