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OPEC and allies to agree one-month extension to output cuts

CommoditiesJun 06, 2020 07:20AM ET
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© Reuters. FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture

BAGHDAD (Reuters) - OPEC and its allies led by Russia are "most likely" to agree on a one-month extension to an oil production cuts deal on Saturday, an OPEC delegate said.

The delegate, who spoke on condition that he not be identified, said: "It is most likely that the meeting today will result in an extension of the agreement for one month only. This is the general trend within OPEC+."

The oil producing states meet on Saturday to approve extending record oil production cuts and to push countries such as Iraq and Nigeria to comply better with existing curbs.

OPEC and allies to agree one-month extension to output cuts
 

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Comments (8)
John Licon
John Licon Jun 07, 2020 10:32AM ET
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Best oil stock to grab??
Aungminn Han
Aungminn Han Jun 07, 2020 3:42AM ET
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Increased yeah but not enough about the world so need to cut until Enough. .
Saeed Sirous
Saeed Sirous Jun 06, 2020 12:43PM ET
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Price has increased so what is the reason for cutting!
Kostas Tsolis
Kostas Tsolis Jun 06, 2020 12:14PM ET
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if you do that I think I am ready for retirement !!!
Anshul Arora
Anshul Arora Jun 06, 2020 12:10PM ET
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45 looks like ceiling
PRADEEP JAIN
PRADEEP JAIN Jun 06, 2020 9:58AM ET
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how much it should rally
Lemang Masak Kicap
Lemang Masak Kicap Jun 06, 2020 9:33AM ET
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time to ride oil
Nana Khadse
Nana Khadse Jun 06, 2020 7:26AM ET
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this will push oil further
 
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