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Why OPEC Won't Flood The Oil Market

OilPrice.com Wednesday, 20 June 2018
The latest from Vienna is that Russia and Saudi Arabia are leaning towards the aggressive end of the suite of options under consideration, but as always, the negotiations remain fluid. Reuters said that Saudi Arabia and Russia could push a 1.5-million-barrel-per-day increase as a negotiating tactic in order to get the rest of the group to sign on to increases of around 500,000 to 700,000 bpd. In fact, the Wall Street Journal reported that Saudi Arabia was shopping a 500,000-bpd increase to fellow OPEC members this week. Some sort of increase seems…
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Source: Reuters Studio - < > Embed
News video: OPEC cites uncertain oulook for 2018

▶ OPEC cites uncertain oulook for 2018 01:04

Crude prices eased Tuesday after OPEC said it's highly uncertain about the outlook for the oil market in the second half of the year. Fred Katayama reports.

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