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Oil producers may take extra measures to rebalance market

October 8, 2017 4:20 PM
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Oil producers may take extra measures to rebalance market

Mubasher: The secretary general of the Organization of the Petroleum Exporting Countries (OPEC) said that OPEC and non-OPEC major producers may take some extraordinary measures next year to rebalance the oil market, according to Reuters.

Mohammad Sanusi Barkindo also told at the India Energy Forum organised by CERA Week in New Delhi that additional oil producing nations may join the meeting of OPEC on 30 November.

OPEC’s secretary general added that consultations are under way for the extension of OPEC output cut deal beyond 30 March 2018, adding that he was not worried about the rise in US shale oil and gas output.

Source: english.mubasher.info

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