Global Analysis from the European Perspective. Preparing for the world of tomorrow

Opec considering huge oil production cuts to avoid market slump

The Opec oil cartel is considering deeper cuts to production next year to avert a price slump in the market as the global economy falters. Ministers from some of the world’s biggest “petro-nations” are expected to cut an extra 400,000 barrels of oil a day from the global market and may consider even deeper cuts of up to 800,0000 barrels, according to reports. Source The Guardian

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