72164
Saudis Open to OPEC Cut Extension
Saudis Open to OPEC Cut Extension

Saudis Open to OPEC Cut Extension

Saudis Open to OPEC Cut Extension

Saudi Arabian Energy Minister Khalid al-Falih agreed with his Venezuelan and Kazakh counterparts to keep all options open in their push to rebalance the world oil markets, including the possible extension of output cuts beyond next March. Falih agreed in separate talks with ministers in the Kazakh capital Astana that steps taken by OPEC and other major crude producers such as Kazakhstan have contributed to better market stability, according to emailed statements from the Saudi Energy Ministry, Bloomberg reported. Saudi Arabia and Venezuela, both members of the Organization of Petroleum Exporting Countries, agreed to consider prolonging production cuts “beyond the first quarter of 2018, if needed”, the Saudi ministry said in one of the statements. The kingdom and Kazakhstan said such an extension would be considered in due course as market fundamentals may dictate, according to a separate Saudi statement. Falih met with Venezuela’s Eulogio Del Pino on Saturday and with Kazakhstan’s Kanat Bozumbayev on Sunday.

 

Short URL : https://goo.gl/BjRguH
  1. https://goo.gl/Nt9TuZ
  • https://goo.gl/QabvQK
  • https://goo.gl/zTjhXC
  • https://goo.gl/o364Sf
  • https://goo.gl/3nWM6v

You can also read ...

NIOC has concluded MoUs with Austria’s OMV and Thailand’s PTTEP for undertaking surveys on the oilfield.
Singapore-based Berlanga Group has signed a memorandum of...
Essar’s Oct. Iran Oil Imports Fall
Indian private refiner Essar Oil’s imports from Iran fell by...
Tehran and Dushanbe have discussed the idea of using tracts of land in Tajikistan for cultivating crops to be imported back to Iran.
In his first overseas trip as Iran's energy minister, Reza...
IEA: US to See Most Crude Output Growth in 10 Years
The United States is expected to account for more than 80% of...
Just two offshore companies accounted for 45% of the total owed creditors this year.
Offshore oil drilling and services companies, hurt by the...
S. Arabia’s Falih: 50% of Excess Oil Remain
The world will still have a surplus of oil by the end of March...
Oil Prices Set for Weekly Fall
Oil prices rose on Friday but remained en route for their...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus