saudis russia agree oil output freeze
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Minister Mohammed Saleh al-Sada:

Saudis, Russia agree oil output freeze

Arab Today, arab today

Arab Today, arab today Saudis, Russia agree oil output freeze

OPEC's acting president Mohammed Saleh al-Sada
Doha - Arab Today

Energy giants Saudi Arabia and Russia agreed Tuesday to freeze oil output at January levels to try to stabilise the market, the Qatari oil minister said.

The Saudi and Russian oil ministers, along with their Venezuelan and Qatari counterparts, "agreed to freeze the production at (the) January level provided that other major producers follow suit," said Qatar's Energy Minister Mohammed bin Saleh al-Sada.

"This step is meant to stabilise the market," said Sada, who is acting president of the OPEC oil cartel, describing the meeting in Doha as "successful".

He said the ministers had reviewed the oil market situation and the outlook for supply and demand.

Benchmark European Brent crude oil was up 81 cents at $34.20 a barrel in London trading following the announcement.

Oil prices have tumbled about 70 percent since June 2014, hit by oversupply, sluggish demand and worries about the global economic outlook.

They have also been pressured by the return of Iran to world markets after the lifting of international sanctions linked to its nuclear programme.

Other producers, both OPEC and non-OPEC members, are expected to "start intensive communications almost straight away," said the Qatari minister, who will lead the talks.

The 13-nation OPEC oil cartel, of which Saudi Arabia, Venezuela, Qatar and Iran are members, had refrained from cutting output as it looks to maintain market share in the face of competition from US shale oil producers.

Russia -- which is not a member of the oil cartel -- has seen its recession-hit economy damaged further by the slump in oil prices.
Source :AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudis russia agree oil output freeze saudis russia agree oil output freeze

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudis russia agree oil output freeze saudis russia agree oil output freeze

 



GMT 19:28 2011 Sunday ,06 November

4 Best Kamasutra sex positions

GMT 04:51 2018 Thursday ,20 September

Pakistan's Prime Minister begins state visit to UAE

GMT 14:15 2017 Wednesday ,15 February

Senior Republican Calls for Investigation into Trump Ties

GMT 07:53 2018 Tuesday ,23 January

Joy and hope in Liberia as George Weah sworn in

GMT 06:15 2017 Saturday ,30 December

Chinese leasing firm orders 50 Airbus jets

GMT 11:11 2017 Saturday ,02 December

Serious health risks waste burning

GMT 10:03 2017 Tuesday ,26 September

Menna participates in Part II of 'Devil’s Joys'

GMT 07:19 2017 Friday ,25 August

In Mexico, impunity piles up along

GMT 13:15 2017 Friday ,28 April

Egyptian MP will support Sisi in 2018 elections

GMT 10:00 2017 Sunday ,26 November

Eight-try Scotland thrash 14-man Australia
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday