Saudi-Russia Oil Policy Shift Sets Stage for Tense OPEC Meeting - Bloomberg:
"When Saudi Arabia and Russia announced a new policy to revive oil production last week, one thing was missing: most of the other partners in their grand coalition.
With oil supplies tightening and prices soaring, the two countries agreed to restore some of the output they halted as part of an accord with 22 other producers, drawn from the Organization of Petroleum Exporting Countries and beyond. The trouble is, officials from several producers, both inside OPEC and outside, said they disapproved of the proposal to raise output and saw difficulties in reaching a consensus when they meet in Vienna next month.
“It might be a contentious meeting,” said Ed Morse, head of commodities research at Citigroup Inc. in New York."
'via Blog this'
No comments:
Post a Comment