Oil nations look at extending supply cut

0 11

VIENNA: Major oil producers are considering extending their recent cuts to output in a fresh bid to boost prices. Countries in the oil cartel Opec and several other oil nations started to reduce production at the start of 2017. The move initially pushed up the oil price, but it has dropped in the last few weeks on fears the limits would not be enough to deal with an oil glut. A group of ministers agreed on Sunday to review extending the cuts by six months, taking them to the end of 2017.–Agencies

Leave A Reply

Your email address will not be published.

8 − 3 =