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👤Arthur Greene
🕔December 10, 2016
OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.
With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC Russia to play ball, the market’s focus will now switch to compliance with the agreement.…
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👤Arthur Greene
🕔November 30, 2016
The Organization of Petroleum Exporting Countries (OPEC) has reached a deal among all 14 member countries to curtail oil production for the first time since 2008, the oil-producing cartel announced from its headquarters in Vienna on Wednesday.
OPEC agreed its first oil output cuts since 2008 after Saudi Arabia accepted “a big hit” on its production and dropped its demand on arch-rival Iran to slash output.…
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👤Nurudeen Amedu
🕔October 2, 2016
According to comments made by the Russian Prime Minister Dimitry Medvedev in an interview on Saturday, Russia’s economy will be in growth phase at the start of 2017.
“We assume that at the end of the year these negative trends, which have been developing in our economy over the past two-three years, will exhaust themselves owing to the measures taken by the government and the general improvement of the situation.…
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👤Nurudeen Amedu
🕔September 6, 2016
The outlook for crude oil prices is starting to post an uptick for the near future as Russia and Saudi Arabia have surprisingly signed an agreement meant to dampen the oil market that has recently shown signs of a major supply glut.…
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