OPEC Discusses Extending Oil Cuts by More Than Three Months
- Saudi Arabia, Russia could roll curbs into second half of 2018
- Length of extension will depend on state of global oil market
OPEC Said to Mull Extending Production Cuts
This article is for subscribers only.
OPEC and its allies are discussing extending by more than three months the oil production cuts that expire in March 2018, potentially prolonging them well into the second half of next year in an effort to boost prices, according to people familiar with the matter.
An extension of that duration would be needed under the worst-case scenario for the oil market that OPEC ministers are now contemplating, the people said, asking not to be named because the talks were private. One option under discussion is a six-month extension, one person said.