• SENSEX
    NIFTY 50
Commodities

Saudi Arabia signals OPEC may need to extend oil cuts until end-2019

Updated : March 18, 2019 07:30 AM IST

Russia, which is cutting oil output in tandem with OPEC, also said production cuts would stay in place at least until June when Washington’s next steps on reducing Iran’s and Venezuela’s oil exports become clearer.
The United States has been increasing its own oil exports steeply in recent months while imposing sanctions on Venezuela and Iran to reduce their shipments to global markets.
OPEC and its allies have cut output by 1.2 million barrels per day - or 1.2 percent of global demand - since January to help rebalance the global oil market and prop up prices.
Saudi Arabia signals OPEC may need to extend oil cuts until end-2019

You May Also Like

Live TV
Advertisement