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News > OPEC Decision boosts Oil Prices

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New OPEC Agreement

OPEC Decision boosts Oil Prices

The Organization of Petroleum Exporting Countries has decided in its meeting in Algers to cut production 750.000 barrels a day, and put an end to the fragile oil market. The production excess in the past two years has made OPEC economies vulnerable in international economy. Important oil exporting countries have been facing structural problems, budget deficit and employment losses. Should the decision of cutting production be respected by all OPEC countries, and supported by non-OPEC exporters, the economic situation will start improving in the Middle East and other developing regions.

06:19 - 30/09/2016    /    Number : 415626    /    Show Count : 611


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