21:32, 20-Feb-2018
Global Oil Market: OPEC, non-OPEC producers eye more cooperation
[]
Share
Copied
We open with a look at global oil markets. OPEC and non-OPEC countries will discuss extending their production cut agreement for a longer period when they meet in June. That's according to United Arab Emirates energy minister Suhail al-Mazroui.
The production agreement that took effect in January 2017 expires later this year. The minister said that the OPEC and non-OPEC countries gained shared trust through the agreement and that's laid the foundation for additional cooperation. The minister said that if the new agreement goes beyond market monitoring, it would create a super group in the global oil market.