Tag Archives: Khalid A Al Falih

Saudi Arabia is pushing to extend the cuts by a further nine months until next March.

Iraqi prime minister also agreed on the need to extend OPEC cuts for a nine-month period.

OPEC has been urging other producers to join the supply pact.

OPEC agreed to slash the output by 1.2 million barrels per day from Jan. 1.

OPEC members agreed in November to cut production by 1.2 million barrels per day for six months.

There could be more cuts if there are other non-OPEC countries that will join the agreement.

Saudi Energy Minister Khalid al-Falih said on Monday the OPEC-led production cut could be extended beyond 2017.

Saudi Aramco. the kingdom'.s state-owned oil behemoth. took 100% control of the sprawling Port Arthur refinery in Texas.

The Organization of the Petroleum Exporting Countries (OPEC)meets this month to discuss oil supply policy.

Russian oil production declined by 254.000 bpd from April 1-26 compared with the reference level of October.