Energy Investing - OPEC Agrees to Extend Oil Production Cuts For Three Months, Algeria Says - Energy Investing - InvestorVillage
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Msg  299056 of 308262  at  11/30/2020 11:39:49 AM  by

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OPEC Agrees to Extend Oil Production Cuts For Three Months, Algeria Says

The Organization of the Petroleum Exporting Countries and partners including Russia agreed to joint cuts of 9.7 million barrels of crude per day in April, with the agreement coming in the wake of collapsing demand and plummeting prices brought on by the economic crisis associated with the coronavirus.

OPEC members have agreed to extend existing crude oil production cuts for a three month period starting in January, and will lobby the cartel's partners to agree to the move, Algerian Energy Minister Abdelmadjid Attar, OPEC rotating president, has said, his remarks cited by Reuters."

 



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