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Crucial that OPEC and non-OPEC producers hold talks – OPEC’s general secretary

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - OPEC’s general secretary el-Badri reportedly said today that OPEC and non-OPEC producers hold talks to solve the oil stock overhang.

    Similar comments have hit the wires in the recent past; however, the Saudi Kingdom has repeatedly said that it is ready to support oil prices only if other major producers cut production.

    Key Quotes

    Oversupply is mainly being caused by Non-OPEC

    Oil market is undergoing a significant adjustment

    OPEC already sees signs that the oil market will stabilize in 2016

    Market situation is jeopardising investment in new supplies

    Not all investment is viable at current prices
    For more information, read our latest forex news.
     

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