Saudi Arabia announced Thursday that it is “not prepared” to trim oil production even though it agreed with Russia on Tuesday that major oil-producing countries should freeze their output at last month’s levels. In early Asian trade on Friday, U.S. oil futures dropped as record crude stocks renewed fresh concerns over global oversupply, though the benchmark witnessed a 14% rise this week. Iran endorses oil production cut plan without committing In a first sign of Organization of the Petroleum Exporting Countries’s (OPEC) and non-cartel producers’ scramble to find ways to prop up the oil market, Saudi Arabia and Russia announced Tuesday that…
Saudi Arabia Flip-Flops On Curbing Oil Production, Iran Just Refuses
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports
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