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Wednesday, 12 April 2017

Saudi Arabia Said Likely to Back OPEC Extending Output Cuts - Bloomberg

Saudi Arabia Said Likely to Back OPEC Extending Output Cuts - Bloomberg:

"Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal discussions.

The Organization of Petroleum Exporting Countries is scheduled to gather in Vienna on May 25 to discuss whether to roll over for another six months the 1.2 million barrels a day in production cuts it implemented in January. Several OPEC countries, including Kuwait, have expressed public support for an extension."



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