Sat, Oct 25, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

‘Oil prices may collapse’ if OPEC delays production cuts

Posted on 07 December 2012

OPEC’s likely decision to leave quotas unchanged next week belies the growing prospect of having to make the deepest oil-production cuts since 2009 as a global supply surge threatens to weaken prices.
The Organization of Petroleum Exporting Countries may need to lower output by 1 million barrels a day, or 3%, in the first half of next year, according to Societe Generale SA. Brent crude may drop 20% by June if the group doesn’t reduce the amount it pumps, the Centre for Global Energy Studies said………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 37629 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
October 2014
S M T W T F S
« Sep    
 1234
567891011
12131415161718
19202122232425
262728293031