There are no ongoing talks with oil companies in Norway about production cuts, Norway’s oil minister on Monday but reiterated that they were willing to make unilateral output cuts if other producers also agree to cut. “We will consider a unilateral cut in output if it contributes to our own resource management and economy,” the minister further explained. “Weak oil price is very demanding for the industry.” Market reaction Crude oil’s reaction to these comments was relatively muted. As of writing, the barrel of West Texas Intermediate was trading at $26.87, erasing 6.7% on a daily basis. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Oil Price Analysis: WTI advance limited near $28.00 per barrel FX Street 2 years There are no ongoing talks with oil companies in Norway about production cuts, Norway's oil minister on Monday but reiterated that they were willing to make unilateral output cuts if other producers also agree to cut. "We will consider a unilateral cut in output if it contributes to our own resource management and economy," the minister further explained. "Weak oil price is very demanding for the industry." Market reaction Crude oil's reaction to these comments was relatively muted. As of writing, the barrel of West Texas Intermediate was trading at $26.87, erasing 6.7% on a daily basis. Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
