COMMENT: OPEC+ puts off production cut decision for a month
BNE INTELLINEWS
A decision over oil production levels and prices looks to have been delayed for a month following the OPEC+ meeting, between OPEC’s 13 members and 10 other non-OPEC countries, on March 4.
At the meeting, the second and third-largest oil producers in the world, Saudi Arabia and Russia, represented the two possible directions available to the group. Russia wanted to see the supply of oil increased, while Saudi Arabia wanted to maintain current levels of production.
