Organisation of Petroleum Exporting Countries (OPEC) and its allies has extended oil
production cuts for nine more months after last year’s landmark agreement failed
to eliminate the global oversupply or achieve a sustained price recovery, Bloomberg
has reported. The producer group together with Russia and other non-members
agreed to prolong their accord through March, but no new non-OPEC countries will
be joining the pact and there was no option set out to continue curbs further into
2018. The market was unimpressed as prices tumbled more...
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