Some Oil Exporting Countries Suggest Six-Month Supply Cut Extension

Related Articles

Germany’s Mukran LNG Terminal Reopens after Frozen Baltic is Cleared

2 days ago

India’s Top Private Refiner Gets U.S. License to Buy Venezuelan Oil

5 days ago

Russia to Send Oil to Crisis-Stricken Cuba

6 days ago

A number of oil exporting countries have suggested a six-month extension to the oil supply cut deal agreed by OPEC countries and non-OPEC crude producers. Iraqi oil minister Jabar al-Luaibi said on Wednesday.

OPEC and non-OPEC producers led by Russia agreed in November to extend oil output cuts until the end of 2018 as they try to finish clearing a global glut of crude while signaling a possible early exit from the deal if the market overheats.

Luaibi did not say which countries have suggested a six- month extension of the agreement.