| OPEC is ‘still alive’ as a force in the oil market, says secretary-general Abdallah Salem el-Badri. OPEC spoke on Thursday, but the market wasn’t listening. The Organization of the Petroleum Exporting Countries could revive talk of freezing oil production along with nonmembers at its next meeting in June, said top oil officials on Thursday.
A production freeze was an idea that had helped send prices rallying more than 50% from 12-year lows last winter. But after the 13-nation producer group ultimately failed to strike a production deal with Russia in Qatar over the weekend, investors didn’t react much to the news that freeze talks could soon be renewed...............................................Full Article: Source
|