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OPEC Considers Cutting 1 Million Barrels a Day

Posted on 28 September 2016

OPEC plans to discuss Wednesday a proposal that would cut almost 1 million barrels a day of global production over one year, said people involved in the discussions, setting up a showdown between Saudi Arabia and Iran.
The plan isn’t expected to be agreed to on Wednesday when the Organization of the Petroleum Exporting Countries plans an informal gathering on the sidelines of an energy conference in Algiers. The scenario is meant to start discussions that could pave the way for an agreement when the producer group meets again in November, the people said……………………………………Full Article: Source


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