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Monday, 10 October 2016

Saudi Minister Says Oil at $60 by Year-End Not ‘Unthinkable’ - Bloomberg

Saudi Minister Says Oil at $60 by Year-End Not ‘Unthinkable’ - Bloomberg:

"The oil-price could recover to $60 a barrel by the end of 2016, said Saudi Arabia’s Energy Minister, just weeks after agreeing to cut supply for the first time in eight years.
The world’s largest crude exporter will work with other producers to determine output caps and is “optimistic” about reaching a deal by the end of November, although OPEC shouldn’t take action that would shock the oil market, Khalid Al-Falih said Monday. Many non-OPEC producers have expressed a willingness to cooperate and the minister said he will meet his Russian counterpart in the next couple of days."

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