Arab Today, arab today plummeting oil prices to dominate opecs meeting
Last Updated : GMT 15:09:01
Arab Today, arab today
Arab Today, arab today

Plummeting oil prices to dominate OPEC's meeting

Arab Today, arab today

Arab Today, arab today Plummeting oil prices to dominate OPEC's meeting

OPEC's meeting
Vienna - KUNA

The 166th OPEC ministerial meeting, due Thursday here, is widely seen by international observers and analysts as one of the most anticipated meetings in years due to plummeting oil prices.
Kuwaiti Oil Minister Dr. Ali Al-Omair is expected to arrive later today to take part in the meeting.
According to analysts, the oil cartel is likely to head for cutting on production levels to halt such price decline. Support for such a move was coalescing last week at a meeting of OPEC advisers.
With oil prices having recently stabilized at around USD 80 a barrel following a 30 percent slide since the summer, some within OPEC have seen less urgent need for the group to take stronger action.
OPEC agreed to limit its collective output to 30 million barrels of oil a day three years ago. But its actual production has regularly spilled over as each member has pushed to maintain their share of global oil markets.
Closer compliance would imply a supply cut of around 300,000 barrels a day compared with October levels.
OPEC has, in the past, taken far more drastic action to boost oil prices. It slashed production quotas by 4.2 million barrels a day in 2008 following the global financial crisis. An OPEC production cut of around 1.5 million barrels would be needed to tighten global oil markets next year, according to oil analysts.
The two main reasons for the recent surplus of crude oil: The economic stagnation in Europe and Japan has sapped demand and the steady increase in US production of shale oil, up four million barrels a day over the past six years, has bolstered supply. That new incremental US production is greater than the entire production of any OPEC country except Saudi Arabia.
Many analysts have said that Saudi Arabia, by maintaining a high level of oil output and driving prices down, has been trying to slow the US shale oil boom by making drilling less profitable.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today plummeting oil prices to dominate opecs meeting Arab Today, arab today plummeting oil prices to dominate opecs meeting

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today plummeting oil prices to dominate opecs meeting Arab Today, arab today plummeting oil prices to dominate opecs meeting

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday