Common Contracts
1 similar Opec Agreement contracts
OPEC: An agreement is finally reachedOpec Agreement • October 3rd, 2016
The OPEC member countries met in Algeria from September 26 to 28. The goal was to lay the foundations for an agreement to reduce oversupply on the market and raise oil prices. The negotiations ended with a consensus to withdraw 750,000 barrels of crude a day from the market, which would place the cartel's total output at 32.5 million barrels a day, a figure similar to that registered at the beginning of the year. The details on the extent of the cut that will correspond to each country will be announced in November during the plenary meeting to be held in Vienna. The decision took the markets by surprise, as they expected a repeat of the failure to reach en agreement during the first half of the year.
