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OPEC is determined to keep pumping oil despite the financial consequences on the policy’s main architect Saudi Arabia, according to Reuters. The news
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OPEC is determined to keep pumping oil despite the financial consequences on the policy’s main architect Saudi Arabia, according to Reuters.
The news agency quotes an official from a major OPEC producer as saying there’ll be no change unless non-OPEC countries help out: a comment taken to mean Russia in particular.
Some members of the Organisation of Petroleum Exporting Countries reportedly fear oil prices may slump further towards $20 (18.9 euros) a barrel.
As the world continues to produce much more oil than it needs, a much-awaited announcement from OPEC is due next week.
Oil falls as spotlight returns to global glut: https://t.co/Wft2JeHAUs pic.twitter.com/qOswYuNRkA
— Reuters Business (@ReutersBiz) 25 Novembre 2015
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