Opec output deal won’t be enough to drain oil stockpiles


Little reduction seen even if non-members join supply curbs

DUBAI: THE Organisation of Petroleum Exporting Countries (Opec) is likely to bring the oil market into balance by the middle of next year, but its production cut looks set to fall short of its stated goal of draining the stockpiles that are depressing prices.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , opec

   

Next In Business News

Sarawak Plantation net profit jumps 59% in 1Q
Miti, MARii to undertake mid-term review of NAP 2020
Magma Group proposes to undertake RCN issuance to raise up to RM100mil
Mega First earnings rise 35% to RM95.5mil in 1Q
Lagenda Properties acquire three plots of lands in Kedah for RM148.98mil
Ringgit ends lower against US dollar
Sunway to focus on core business
PETRONAS Dagangan appoints Azureen Azita Abdullah as COO
Sime Darby Property 1Q net profit more than doubles to RM123.6mil
LTKM 4Q net profit nearly doubles to RM17.8mil

Others Also Read