OPEC+ panel recommends deeper oil cut, awaits nod from Russia -sources
An OPEC+ technical panel has recommended a provisional cut in oil output of 600,000 barrels per day (bpd) in response to the coronavirus' impact on energy demand as it awaits Russia's final position on the proposal, three sources said.
OPEC+ ministers have not decided on further action, but the recommendation on Thursday by all the members of the JTC, which includes Saudi Arabia and Russia, would signal progress towards a decision.
"The recommendation is for a cut of 600,000 bpd. Russia has asked for more time for consultations," one of the sources said.
Another OPEC source said the proposed output cut of 600,000 bpd, if agreed by all members, will start immediately and continue until June.
https://www.cnbc.com/2020/02/06/reu...rom-russia-sources.html?&qsearchterm=opec
- Forums
- ASX - By Stock
- SXY
- Growth during December 2020 quarter
Growth during December 2020 quarter, page-88
-
- There are more pages in this discussion • 42 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SXY (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online