Actionable news
0
All posts from Actionable news
Actionable news in CVX: CHEVRON CORPORATION,

Doha oil producers close to agreeing on output freeze

A van is refuelled at Woqod oil station in Doha, Qatar January 28, 2016.

Oil producing countries meeting in Doha on Sunday appeared close to agreeing on an output freeze to prop up crude prices, the first such deal in 15 years, official sources told Reuters.

A draft agreement circulating in Doha and seen by Reuters says countries' average daily crude oil production in each month would not exceed the level recorded in January this year.

The freeze would last until Oct. 1 this year, and producers would meet again in October in Russia to review their progress in engineering "a progressive recovery of the oil market", the draft reads.

Final agreement has not been reached on the draft, but several senior sources in national oil ministries said they believed a deal could be achieved.

"I am optimistic," acting Kuwaiti oil minister Anas Khalid al-Saleh said on Saturday of prospects for a deal.

"‎There is...


More