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Commodities Briefing - Categorized | Market Moves, Oil more

Kuwait hints OPEC ready to ‘cooperate’ to stabilize oil market

Posted on 27 January 2016

Kuwait’s OPEC Governor Nawal al-Fuzaia hinted on Tuesday that the Organization of the Petroleum Exporting Countries is ready to cut production in an effort to stem the persistent slump in oil prices. The governor told an energy forum in Kuwait that the cartel is ready to “cooperate” with others to stabilize the oil market, according to media reports.
“OPEC is willing to cooperate with producers outside the group if they show that they are serious about cooperating with OPEC. Non-OPEC producers keep on making statements that they are willing to cooperate, but the reality is different,” she said, according to Dow Jones Newswires………………………………………..Full Article: Source


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