Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil giant Russia have agreed to extend production cuts until the end of 2018. The new deal will last from January to December of 2018 and the cartel will review the deal at the next OPEC meeting in June.
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Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil giant Russia have agreed to extend production cuts until the end of 2018. The new deal will last from January to December of 2018 and the cartel will review the deal at the next OPEC meeting in June.
In an interview with CNBC-TV18, Daniel Hynes, Senior Commodity Strategist at ANZ Research shared his readings and outlook on the same.
We don’t expect to see oil prices weaken from here. We could certainly see a few dollars higher from here in the very short-term, he said.
