Saudi Arabia won't cut oil output unless Iran will
The possibility of a coordinated production cut between OPEC and non-OPEC members is extremely low, Emma Richards, an oil and gas analyst with BMI Research, which is a part of Fitch Group, believes. “OPEC's current policy is to allow the lower price to clear the market of the higher cost barrels. That policy's just beginning to bear fruit, so a cut at this stage would be counter-productive,” Richards told Trend. Meanwhile, earlier Reuters reported citing the sources familiar with the discussions that some OPEC countries are trying to ...
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