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Russia still proposes to freeze oil output but not exports - Reuters

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The latest headlines surrounding oil markets hit the wires via Reuters citing sources, Russia looks to strengthen its relation with OPEC by proposing to freeze output, although doesn’t seem to halt exports.

    Key Headlines:

    Russia still proposes to freeze oil output but not exports

    Position unchanged since meeting in Doha in Feb

    Deal to freeze global oil output to speed up rebalancing of global oil markets by roughly by 50% a year

    Iran will struggle to increase oil output quickly to the levels it announced (4m bpd)

    Iran is using oil in storage, easy to launch projects to boost exports

    Russia does not plan to curb output at its new projects, may use other tools to contain production while freeze deal in place
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