Sat, May 30, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Oil more

Saudi Arabia may increase production to record level

Posted on 10 June 2014

Ministers from the Organization of the Petroleum Exporting Countries (OPEC), which produces about 40 percent of the world’s oil, are expected to leave their oil-production level unchanged in their meeting on June 11 in Vienna. In a Bloomberg survey 22 of the 23 analysts polled made a similar prediction.
What might have to change, however, is Saudi Arabia’s production quota within the cartel, as it will have to increase output to record levels to counteract supply shortfalls. “I don’t see anything changing in terms of the 30 million barrels-per-day target,” an unnamed OPEC source told Reuters. “It should be a fairly relaxed meeting.”……………………………………….Full Article: Source


 Article link

This post was written by:

VRS - who has written 40705 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
May 2015
S M T W T F S
« Apr    
 12
3456789
10111213141516
17181920212223
24252627282930
31