OPEC: See strong oil demand
  • WebDesk BTVI
  • Dec 01 2017

December 1: After months of anticipation, OPEC and non-OPEC producers have agreed to extend oil output cuts until the end of 2018. The move comes as oil producers try to finish clearing a global glut of crude while signaling a possible early exit from the deal if the market overheats. Saudi Energy Minister Khalid Al-Falih told reporters that the cartel will continue to cut supply by 1.8 million barrels per day.