A pact by leading producers to cut output could quickly begin sopping up the glut on the oil market that has weighed on prices, the IEA said as it also hiked its demand forecast.
The agreements, if implemented, would “hasten the market’s return to balance by working off the inventory overhang,” said the International Energy Agency, which analyzes energy marketsRead more
Venezuelan President Nicolas Maduro was quoted on Saturday as saying that OPEC and non-OPEC nations were "very close" to an agreement on oil production curbs, Azerbaijan's state news agency Azertag reported.
"Today with (Azeri) President Ilham Aliyev we talked about reaching agreements between OPEC and countries that are not members of the cartel. We are very close to reaching agreementsRead more