Hopes for OPEC, Russia Output Deal Fade

39 views0

Hopes for OPEC, Russia Output Deal Fade

By Correspondent

Russia’s Energy Minister and Venezuela’s Oil Minister had earlier on discussed the possibility of holding joint consultations between OPEC and non-OPEC countries to find a common ground for the challenge of slumping crude oil prices. However, analysts have warned against putting too much hope on the possibility of a deal between non-OPEC crude producer Russia and OPEC, saying it was “highly unlikely” as such a move would also be self-defeating, because stronger prices would bring previously shelved production back to the market. Meanwhile, the dollar gained support after Japan’s Central Bank shocked markets Friday with a decision to adopt a below-zero interest rate policy to spur bank lending and drive up inflation.

Discover more from NewsBreakers

Subscribe to get the latest posts sent to your email.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0
Previous
Next

Comments are closed.