Opec, non-Opec meeting: Agreement to cut 1.2m bpd to rebalance oil markets

Image processed by CodeCarvings Piczard ### FREE Community Edition ### on 2018-12-01 19:29:16Z | |

Oil-producing countries agreed to cut production by 1.2 million barrels per day from January 2019 for six months to rebalance oil markets and support oil prices.


Brent crude, the international standard, up $3.11 a barrel, or 5.2 percent, at $63.17 on the news. Benchmark New York crude was $2.23, or 4.3 percent, higher at $53.72 a barrel.

At a crucial meeting on Friday in Vienna, Opec and non-Opec members like Russia resisted pressure from US president Donald Trump to reduce production to prop up oil prices. Trump insisted on lower oil prices and more output from Opec.





An Algerian news website aims at covering all the country’s territory through providing objective and positive image, focusing the most on breaking news.

A dynamic team is working on feeding the website by credible information in all fields of life; a reliable network composed of specialized elements working in harmony with our team in Algiers, the website’s headquarter, provides us more coverage and simultaneity.

“English” is what makes us different in Algeria and ranks us first too not only as a news website; English also makes it simple and fast for Anglophone world to discover our country.


Please enter your comment!
Please enter your name here