Thursday, November 30, 2017

OPEC ministers agree to extend oil production cut deal until end of 2018

oil production cut deal
OPEC ministers agreed at the meeting on November 30 to extend the oil production reduction agreement until the end of 2018, Oil and Gas Minister of Oman Mohammed bin Hamad Al Rumhy told TASS.

"Yes," he said, answering the TASS question. The minister did not specify whether quotas will be established for Libya and Nigeria, which were freed from the obligation to reduce oil production.

But before the meeting he told reporters that this issue will be discussed today.

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