You are here

Weaker Opec members panic as oil slide continues

The IEA says the glut in global supplies could last until the end of 2016
Saturday, August 22, 2015 - 05:50

OIL EVERYWHERE: While Saudi Arabia has managed to cope with the collapse in the oil price as it has a huge sovereign wealth fund, weaker members of Opec do not have that luxury.


WEAKER members of the Organization of the Petroleum Exporting Countries (Opec) are appealing to Saudi Arabia to cut oil production following an eight-week price slide to the lowest levels since the financial crisis of 2008.

Brent Oil was trading at US$46.4 a barrel on late

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