Organisation of Petroleum Exporting Countries (OPEC) has yet to decide to cut its production target, the United Arab Emirates (UAE’s) energy minister said, as crude prices extend a slide since June amid a boom in United States (U.S.) shale oil and signs of slower demand growth in China.All 12 members of the oil cartel must agree before any decrease in its official limit of 30 million barrels a day, the U.A.E.’s Suhail Al Mazrouei said, after OPEC’s Secretary-General said it may lower the ceiling in 2015.
Read more @ The Nation
No comments:
Post a Comment