Saudi Energy Minister Hopes For Production Cut Extension

The Organization of Petroleum Exporting Countries is likely to meet in the first week in July in Vienna to review oil production cut.

Saudi Arabia’s Energy Minister, iphone 8 coque tete de mort Khalid al-Falih said OPEC would probably meet in the first week in July in Vienna and that he hoped it would reach consensus on extending its agreement to cut oil output.

Falih had said earlier this month that OPEC was close to agreeing to extend the agreement beyond June, iphone 8 coque turquie although more talks were still needed with non-OPEC countries that were part of the production deal.

The Organization of the Petroleum Exporting Countries plus Russia and other producers, an alliance known as OPEC+, coque xs iphone nike have a deal to cut output by 1.2 million barrels per day (bpd) from Jan. 1. The pact ends this month and the group meets in coming weeks to decide their next move.

“We are hoping that we will reach consensus to extend our agreement when we meet in two-weeks-time in Vienna,” Falih told reporters on the sideline of a G20 energy and environment ministerial meeting in Karuizawa, coque iphone x fermer avec motif northwest of Tokyo.

Asked when the meeting will be held, coque olixar iphone x he said: “Probably the first week of July”.

It was not completely clear whether the agreement would also include OPEC, Voice of Nigeria reports.

OPEC was set to meet on June 25, coque novago iphone 7 followed by talks with its allies led by Russia on June 26. But Russia suggested a date change to July 3 to 4, coque super protection iphone 7 according to sources within the group.

Falih said that oil demand usually picks up in the second half the year, with refineries coming back from maintenance and with seasonal demand boost,

11 thoughts on “Saudi Energy Minister Hopes For Production Cut Extension

Leave a Reply

Your email address will not be published.