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2017-02-02 18:45:00

OPEC, RUSSIA CUTS

OPEC, RUSSIA CUTS

REUTERS - OPEC and non-OPEC producer Russia are shielding Asia from supply cuts agreed in a landmark deal last year as they fight to protect their share of the world's biggest and fastest growing oil market.

Instead, they have reduced deliveries to Europe and the Americas as they implement a coordinated agreement to cut supply by about 1.8 million barrels per day (bpd), seeking to reduce a global supply glut and lift oil prices.

The Organization of the Petroleum Exporting Countries'…

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Tags: OPEC, RUSSIA, OIL, PRODUCTION, PRICES
Chronicle:
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