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OPEC, allies unlikely to delay decision on oil cut extension

Reuters  |  ABU DHABI 

By Rania El Gamal and Maha El Dahan ABU DHABI (Reuters) - OPEC and non-OPEC oil producers are moving towards deciding at their Nov. 30 meeting whether to extend a global agreement to curb oil supply further into 2018, two ministers said on Monday, a quicker time frame than previously indicated. The Organization of the Petroleum Exporting Countries, plus Russia and nine other producers, are cutting output by about 1.8 million barrels per day until March in an attempt to eradicate a glut, and are considering extending the deal for longer.Reuters reported last month, citing OPEC sources, that ...

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First Published: Mon, November 13 2017. 17:55 IST
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