You are here

Opec agrees to maintain oil output: delegates

Friday, June 5, 2015 - 19:42

[VIENNA] The Organization of the Petroleum Exporting Countries (Opec) agreed on Friday to maintain its oil output ceiling, three delegates said, sticking with its plan to tolerate lower prices in the interest of defending market share.

The group, which shocked markets last November by resisting calls to cut production in the face of tumbling oil prices, had been widely expected to roll over its production for the coming months after Brent crude rebounded by more than US$20 a barrel from January lows and as global demand accelerated.


Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom