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2019-12-06 International-UN-NGOs
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OPEC meeting ends without statement amid expectations of more output cuts
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[ENGLISH.ALARABIYA.NET] OPEC ministers finished a marathon meeting on oil markets Thursday night amid expectations that the exporters’ club will announce deeper cuts in supply on Friday.
Ministers remained tight-lipped after the ministerial session ended soon after 11pm at the group’s Vienna headquarters, with Saudi Energy Minister Prince Abdulaziz bin Salman telling news hounds: "The OPEC meeting is finished. We will have a meeting tomorrow and everything will become clear for you."
He was referring to a meeting scheduled for Friday, where OPEC ministers will try to nail down output cuts to be shared with exporters outside the group, including Russia, Kazakhstan and Oman.
Earlier in the day, a Joint Ministerial Monitoring Committee recommended that OPEC and allied exporting countries remove another 500,000 barrels per day from the world market, according to Russia’s Energy Minister Aleksander Novak.
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Posted by Fred 2019-12-06 00:00||
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