| Venezuela’s Oil Minister Eulogio Del Pino faces an uphill battle persuading Russia and Saudi Arabia to cooperate in cutting oil production amid a supply glut that has pushed prices down more than 30 percent in the past year, according to analysts Robin Mills and Edward Bell.
Concern that U.S. shale producers would benefit from any increase in oil prices following a potential cut is one factor that will keep Saudi Arabia and Russia from agreeing to a reduction in output, according to Mills, chief executive officer of Dubai-based oil consultant Qamar Energy, and Bell, commodities analyst at lender Emirates NBD PJSC...............................................Full Article: Source
|