Tags: EU | OPEC Meeting

OPEC Confident Non-members Will Back Oil Cut Extension

OPEC Confident Non-members Will Back Oil Cut Extension

Tuesday, 02 July 2019 05:38 AM

VIENNA (AP) — Major oil producing nations are meeting in Vienna for a second day, with OPEC members expressing confidence that non-members of the cartel will sign off on a deal to extend cuts for another nine months.

Member nations of the Organization of the Petroleum Exporting Countries on Monday agreed to the extension in a bid to keep oil prices from sagging as the cartel faces a weakening outlook for global demand.

Heading in to meetings Tuesday with major non-members like Russia, Saudi Arabia's Energy Minister Khalid Al-Falih said he was "100%" sure the cut would be approved by them.

He says "I'm very positive, very optimistic, and I think we are in a very good place today."

Key non-member Russia already said Monday that it backs the extension.

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Major oil producing nations are meeting in Vienna for a second day, with OPEC members expressing confidence that non-members of the cartel will sign off on a deal to extend cuts for another nine months.Member nations of the Organization of the Petroleum Exporting Countries...
EU,OPEC Meeting
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2019-38-02
Tuesday, 02 July 2019 05:38 AM
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