OPEC president says Saudis, Russia push to delay supply hike
- Date: 04-Nov-2020
- Source: Arabian Business
- Sector:Oil & Gas
- Country:Saudi Arabia
OPEC president says Saudis, Russia push to delay supply hike
OPEC+ talks on delaying a January oil-output increase gathered momentum on Tuesday, with some top officials offering support to the effort.
Algeria, which this year holds the OPEC presidency, said that both Saudi Arabia and Russia were pressing fellow members to prolong the current oil-supply cuts into next year, rather than tapering them as planned. Algeria supported the proposal, the first country to publicly do so.
Oil prices rose as the comments followed fresh hints from Secretary-General Mohammad Barkindo that the Organisation of Petroleum Exporting Countries is preparing to change course. The alliance will move to “accelerate” the oil recovery at its next meeting, scheduled for November 30-December 1, he said.
The 23-nation oil-producers network, led by Riyadh and Moscow, is currently scheduled to restore almost two million of the 7.7 million barrels of
Select Sector 
Select Country 
