Friday 3 June 2016

GULF OPEC MEMBERS MAY REVIVE GLOBAL OIL OUTPUT DEAL

OPECGulf members of Organisation of Petroleum Exporting Countries, including Saudi Arabia, appeared set to revive the idea of coordinated oil-output action by major producers, when the group met on yesterday, which may include establishing a new output ceiling inside the group, OPEC sources said, according to Reuters.

Saudi arch-rival and OPEC member Iran said the country was not yet ready for an output pact, but several OPEC sources said the atmosphere inside the group had improved and a compromise was possible.

Read more @ The Guardian

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