Question of Iran, Iraq production cuts deferred to ministers: delegates
London
OPEC (Organization of the Petroleum Exporting Countries) talks in Vienna on Tuesday didn't resolve whether Iraq and Iran will join any production cuts, instead deferring the crucial matter to ministers who will meet on Nov 30, said two delegates.
While Libya's Opec governor Mohamed Oun said that the meeting ended with a consensus that will be presented to ministers, he declined to comment on whether the group's second and third-largest members are willing to limit output.
The continuing questions around Iranian and Iraqi production don't make a deal impossible next week, the delegates said, asking not to be named because the talks are private. However, the lack of agreement on Tuesday leaves open the possibility the group fails to implement the cuts first outlined…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil jumps, equities fall as Iran blasts fan Middle East fears
Gold set for fifth weekly gain as geopolitical risks buoy demand
Oil holds near 3-week low as US sanctions interrupt easing tensions
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
BP reshapes its leadership team as some executives leave
BHP to decide on future of nickel business by August, trims met coal estimates