ShippingWatch

OPEC talks end without oil-cuts deal as Russia holds back

The OPEC talks concluded without a set deal on oil output cuts for the first time in half a decade, as Russia has so far refused to commit to Saudi Arabia's proposed large production cut.

Photo: Bloomberg

OPEC ended talks without a deal on oil production cuts for the first time in nearly five years as Russia flexed its muscles by so far refusing to commit to the big output curb that Saudi Arabia is demanding.

After two days of talks in Vienna, Saudi Energy Minister Khalid Al-Falih said he is not confident of an agreement when the Organization of Petroleum Exporting Countries meets again with its allies on Friday. A proposal for a combined OPEC and non-OPEC cut of 1 million barrels a day was left dangling in uncertainty.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Growth prompts OSM to send 150 managers on a leadership course

An equal approach to management and a desire to be more aligned are some of the reasons why OSM is sending both top and mid-level managers on a custom-made leadership course. ShippingWatch has spoken to OSM’s new chief culture officer about the initiative.

Further reading

Related articles

Latest news

See all jobs