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Japan oil industry group expects OPEC+ to extend supply curbs
The head of Japan's oil industry body said on Monday he expects OPEC+ to extend its supply curbs after December to support oil prices. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, is set to consider whether to make additional oil supply cuts when it meets on Nov. 26, three OPEC+ sources told Reuters after crude prices dropped by almost 20 per cent since late September. "At least, the current production curbs will probably continue," including additional voluntary curbs from Saudi Arabia and Russia, Shunichi Kito, president of the Petroleum Association of Japan ... (full story)
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- Posted: Nov 20, 2023 9:52am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 89
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