80052
Qatar Against Supply Cut Deal Exit
Qatar Against Supply Cut Deal Exit

Qatar Against Supply Cut Deal Exit

Qatar Against Supply Cut Deal Exit

Qatar Energy Minister Mohammed al-Sada said it is premature to discuss an exit strategy from a global oil supply-cutting pact and supports the continuation of the agreement, a Qatar News Agency report on Saturday was cited by Reuters. Only when global oil inventories returned to the five-year average should work begin on an agreement suited to the market conditions, al-Sada said. According to al-Sada, the group should only review its cuts accord once crude stockpiles return to a five-year historical average. The UAE foresees no big changes in OPEC’s policy to result from short-term price fluctuations, UAE Energy Minister Suhail Al Mazrouei said. “We hope the whole dynamic will continue throughout 2018,” Iraq’s al-Luaibi said. “The deal should continue. The market now is stabilizing somehow but it’s not yet stable.” Iraq said repeatedly last year that it should have been exempt from the oil cuts as it worked to rebuild its war-torn economy.

 

Short URL : https://goo.gl/vQHRAR
  1. https://goo.gl/Ey66Li
  • https://goo.gl/CQVRTF
  • https://goo.gl/Nm9zEj
  • https://goo.gl/bSviXn
  • https://goo.gl/8Z2xWM

You can also read ...

Philippines Struggles to Embrace Renewable Energy
Renewable energy costs are falling across the world, but the...
India to Keep Fuel Prices in Check
India is looking at ways to keep rising fuel prices in check,...
OPEC Not Rushing to Boost Production
OPEC is not in a rush to start winding down the production...
Iran's electricity industry ranks 14th in the world in terms of output.
Driven by its vast potential in the electricity industry, Iran...
Oil Prices Rise as China, US Put Trade War on Hold
Oil prices rose on Monday as markets reacted to news that...
Shourijeh Gas Storage Capacity to Reach 4.5 bcm
Shourijeh natural gas storage facility in the northeastern...
Changing Working Hours  Could Help Save Electricity
Changing working hours in state organizations during peak...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus