Oil Costs Rise As OPEC Discusses Deeper Output Cuts

OPEC is discussing a possible deepening of crude oil output cuts in a bid to speed up market rebalancing, sources from the cartel informed Reuters. The information got here because the group’s Financial Fee Board met to debate attainable situations for subsequent week’s assembly in Vienna. Expectations are that the assembly will yield a consensus settlement on an extension of the cuts, however that is the primary time a possible deepening can also be being talked about. Thus far, a number of OPEC members have declared their help for an extension, together with the chief,…

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