Tag Archives: Production

Oil prices have risen by more than 20% since September on the back of expectations for a deal extension.

OPEC members will discuss extension of the body'.s production cut plan to curb the global oil glut and rebalance the market.

Ten non-OPEC countries will attend the meeting of OPEC+ in Vienna on November 30 to discuss increasing the number of the deal’s participants.

The market had been looking forward to a supportive number due to the pipeline disruption from Canada.

Saudis want production cuts extended through 2018. while Moscow wants flexibility.

Oil markets are already showing jitters over the OPEC meeting this week.

Vladimir Putin could send oil markets into a spin by pulling out of the planned extension to the current OPEC-led production cut.

OPEC. Russia and several other major producers have cut their combined output by about 1.8 million barrels per day since January.

Venezuela is ordering its embassies around the world to renegotiate rents at their diplomatic missions.

Both OPEC and non-OPEC members are expected to continue the cuts into 2018 to help keep prices rallying.