OPEC takes additional measures to rebalance oil market

  • 09 October 2017 / News / 594 / Emerging Africa


OPEC takes additional measures to rebalance oil market

OPEC and major producing countries can take “some additional measures” next year to rebalance the oil market, OPEC Secretary General “Mohammad Sanusi Barkindo” said on Sunday.


The pact between OPEC, Russia and other producers on the reduction of production of about 1.8 million barrels per day (bpd) is expected to expire in March.Barkindo said that consultations are underway for the extension of the contract to reduce OPEC production beyond March 30, 2018.

Barkindo also said he was not worried about the increase in the United States production of gas and shale oil.

Other oil-producing countries can join the OPEC meeting, Barkindo told reporters at the India Energy Forum organized by CERAWeek in New Delhi.


source: dzbreaking

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