Tag Archives: Persian Gulf Countries

The Saudis are working hard on the cut. But if Russia says no cut. then OPEC won'.t cut.

The fiscal deficit continues to narrow in Saudi Arabia.

Russia would eventually agree to cut its oil production.

Qatar has minimal spare capacity so its exit won'.t affect the volume of oil supply in the market.

Qatar has minimal spare capacity so its exit won'.t affect the volume of oil supply in the market.

The emirate will no longer remain committed to OPEC agreements.

Qatar announced on Monday that it plans to withdraw from the oil producing group.

Russia has for years been cooperating with OPEC. helping to engineer a rebound after a 2014 oil price slump.

Riyadh has suggested OPEC and its allies reduce output by 1 million barrels per day from January 2019 to stem the price falls.

A decision on the production policy in 2019 can be reached at an OPEC+ ministerial meeting in Vienna on December 6-7.