OPEC, Non-OPEC meeting on Monday is Canceled - Bloomberg citing a delegate

November 25, 2016 12:36 PM EST

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OPEC, Non-OPEC meeting on Monday is Canceled, Bloomberg reported citing a delegate



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OPECs to meet on Nov 30
Maxander on 2016-11-25 15:11:47
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OPECs will be meeting on Nov 30 to discuss the quantity of production cut as US crude oil inventory is 489 mn barrels.
So if they cut 1.34 mn bpd production, in a year's time they would cut in total 489 mn barrels.
The meeting with non-OPECs will be successful only after deciding quantity of production at OPECs first. So that could be the reason for Saudi Arabia to cancel meeting with Russia before OPECs meeting on Nov 30.
OPEC-Non-OPECs meeting will be after Nov 30, sooner.

OPECs to meet on Nov 30
Maxander on 2016-11-25 15:10:52
Mark as Spam | Reply to this comment

OPECs will be meeting on Monday to discuss the quantity of production cut as US crude oil inventory is 489 mn barrels.
So if they cut 1.34 mn bpd production, in a year's time they would cut in total 489 mn barrels.
The meeting with non-OPECs will be successful only after deciding quantity of production at OPECs first. So that could be the reason for Saudi Arabia to cancel meeting with Russia before OPECs meeting on Nov 30.
OPEC-Non-OPECs meeting will be after Nov 30, sooner.


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