Home OPEC considering extending oil cuts until end of year – TASS
FXStreet News

OPEC considering extending oil cuts until end of year – TASS

The Organization of the Petroleum Exporting Countries (OPEC) and its allies are considering extending oil production cuts until the end of the year, Russian news agency TASS reported on Friday, citing sources familiar with the matter.

“OPEC is unlikely to ease cuts in March as the market is still quite bearish,” TASS reported.”OPEC will meet in March, then in June.”

Market reaction

Crude oil prices pulled away from daily lows on this headline and the barrel of West Texas Intermediate (WTI) was lat seen trading at $55.50, erasing 0.3% 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.