No Confirmed OPEC/ Non-OPEC Meeting – Russia’s Energy Minister Novak

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - In a Bloomberg interview in the last hour, Russian Energy Minister Alexander Novak noted that there is no confirmed meeting of OPEC and non-OPEC nations to discuss production cuts.

    Key Quotes:

    Discussions on production only possible if all exporters agree

    Last met Saudis re oil in Nov, no approaches since then

    Ready to discuss oil output but not ready for any decision

    May adjust 2016 flat-output f/cast due to low oil prices

    Meanwhile, both crude benchmarks have wiped out most gains, with the US oil up 0.23% near $ 33.30, while the Brent drops below $ 35 barrier, up +0.25% on the day.
    For more information, read our latest forex news.

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