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2015-07-30 19:24:00

OPEC & RUSSIA BALANCE

OPEC & RUSSIA BALANCE

OPEC and Russia say they expect the global oil market to become more balanced and stable next year after the recent sharp drops.

OPEC'S secretary general, Abdullah al-Badri, said after talks Thursday with Russian Energy Minister Alexander Novak that he didn't anticipate a further drop in prices.

OPEC decided in June not to cut production, in a bid to retain its share of the global market in the face of a boom in shale oil production in the U.S. Russia, which is not part of OPEC but is the world's top crude producer and depends heavily on energy exports, hasn't made any cuts either.

Novak said that he and al-Badri didn't discuss any production cuts.

pennenergy.com

More: 

OPEC OIL UP 170 000 

OPEC: LOWER DEMAND 

SAUDI & RUSSIA INVESTMENTS 

OPEC SHARE DOWN 

OPEC SAW $70 - 80  

OPTIMISTIC OPEC: BELOW $100

 

 

Tags: OIL, GAS, PRICES, OPEC, RUSSIA

Chronicle:

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