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BP CEO Sees Oil Market ‘Pretty Pessimistic’ About OPEC Cuts

Posted on 16 November 2016

The oil market is “pretty pessimistic” about OPEC reaching a deal to cut production, BP Plc Chief Executive Officer Bob Dudley said. Oil prices will probably stay around current levels if the Organization of Petroleum Exporting Countries fails to implement the deal it reached in Algiers in September to limit output, Dudley said.
The producer group is meeting in Vienna on Nov. 30. “People are pretty pessimistic right now about a potential agreement, you see that in the price,” Dudley said. If the talks fail, prices “will stay around the level we’re at.”…………………………………Full Article: Source


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