Doha meeting to look at best recipe to raise prices | GulfNews.com

Doha meeting to look at best recipe to raise prices | GulfNews.com:

"When oil ministers from both Opec and non-OPEC countries meet on April 17 in Doha, they will face a challenge; they need to find a way to cut oil production — not just freeze crude production to support prices, oil experts said.

Freezing oil production levels alone at January’s peak levels, a move that will likely not have the support of smaller oil producers, will not be sufficient to raise prices, the experts say.

“An agreement to freeze production at the January 2016 levels is meaningless and will not lead to a rise in oil prices. Only a cut of production exceeding 2 million barrels a day (bpd) will do the trick,” Mamdouh G Salameh, international oil economist and visiting professor of Energy Economies at ESCP Europe business School in London told Gulf News."



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