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Saudi Arabia Says It's Open to Another OPEC Cuts Extension

From bloomberg.com

Saudi Arabian Energy Minister Khalid Al-Falih agreed with his Venezuelan, Kazakh and U.A.E. counterparts to keep all options open in their push to re-balance world oil markets, including the possible extension of output cuts beyond next March. Al-Falih agreed in separate talks with the ministers in the Kazakh capital Astana that steps taken by OPEC and other major crude producers such as Kazakhstan have contributed to better market stability, according to three emailed statements from the Saudi energy ministry. Saudi Arabia and Venezuela, both members of the Organization of Petroleum Exporting Countries, agreed to ... (full story)

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  • Category: Fundamental Analysis