OPEC Secretary-General Mohammed Barkindo said next week’s meeting in Algeria won’t produce an agreement among cartel members to cap production, reports The Wall Street Journal’s Benoit Faucon and Summer Said.
OPEC has been pumping high volumes of crude despite falling oil prices, aiming to squeeze U.S. shale producers out of the market. The Organization of the Petroleum Exporting Countries’ member nations want oil prices to go back up, but countries including Iraq, Iran, Nigeria and Libya, which are in the process of trying to boost output, have balked...............................................Full Article: Source
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