News Formal

OPEC+ anxious to maintain unity

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 23 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 92%

OPEC+ News

Anxious,To,Maintain

VIENNA — The OPEC+ group of oil-producing nations meet on Sunday to debate their output policy, with an extension of current production cuts likely as geopolitical and economic challenges cloud the market.

The biannual meeting of the 12-member Organization of the Petroleum Exporting Countries led by Saudi Arabia and its 10 partners headed by Russia was originally scheduled to take place at the cartel's headquarters in Vienna.But last week, the conference was moved online before some members were asked to travel to the Saudi capital Riyadh. The virtual meeting is due to start at 1100 GMT.

They are among the countries — along with Algeria and Oman — which participate in the voluntary supply cuts.While revising quotas will 'require further efforts from Saudi Arabia,' it 'should also help protect the cartel's unity,' said Ozkardeskaya.Negotiations about the production quotas of member countries have repeatedly been a source of discord in the past, triggering heated debates and even shock departures.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

DoF gets assistance for ROW issuesTHE Department of Finance (DoF) has obtained a technical assistance commitment from the OPEC Fund for International Development (OPEC Fund) to address right-of-way (ROW) acquisition issues.
Source: TheManilaTimes - 🏆 2. / 92 Read more »