-
OPEC reaches consensus to extend oil cuts in Q1 if allies agree
OPEC members reached a broad consensus on the need to extend existing oil production cuts for three months from January if their allies in the wider OPEC+ group also support such a move, ministers and delegates said on Monday. Algerian Energy Minister Abdelmadjid Attar, holder of the Organization of the Petroleum Exporting Countries’ rotating presidency, said there was “consensus at the OPEC level.” He spoke before OPEC ministers began their talks on a policy that would help producers cope with weak demand in 2021 due to the coronavirus crisis. His Iranian counterpart, Bijan Zanganeh, made similar remarks after ... (full story)