If you are looking Stock Cash Tips services for Indian Stock Market, then you are at a right place. Our Company experts continuously monitor Indian Share market and fully optimize Share market result for better. Get all the Share market tips solutions with us. Our mission is to help you succeed because we believe in you, your Ideas, and your dreams.
OPEC has agreed its first oil output cuts since 2008 after Saudi Arabia accepted "a big hit" on its production and dropped its demand on arch-rival Iran to slash output, pushing up crude prices by around 10 %.
Fast-growing producer Iraq also agreed to curtail its booming output, while non-OPEC Russia will join output cuts for the first time in 15 years to help the Organization of the Petroleum Exporting Countries prop up oil prices.
"OPEC has proved to the sceptics that it is not dead. The move will speed up market rebalancing and erosion of the global oil glut," said OPEC watcher Amrita Sen from consultancy Energy Aspects.
The cut did not come without a casualty, however. Indonesia, the producer group's only East Asian member, said it would suspend its membership after rejoining only this year as it was not willing to comply with the output cuts sought.
0 comments
Note: only a member of this blog may post a comment.