Kazakhstan’s OilMin: Considering further output cuts proposed by OPEC+
|Kazakhstan is mulling over a proposal set out by the technical committee of a global oil producers’ pact to further cut its output by 20,000-30,000 barrels per day (bpd), Kazakhstan Energy Minister Nurlan Nogayev said on Tuesday.
He added that the OPEC and its allies (OPEC+) would meet either in late February or in early March to discuss their further actions.
Oil bulls remain in control
The above comments bolster the expectations of further OPEC+ supply cuts, collaborating with the bullish momentum seen in oil prices so far this Tuesday.
WTI jumps 1.30% to $50.25 while Brent rallies 1.50% to regain the 54 handle, at the time of writing.
FXStreet Indonesian Site - new domain!
Access it at www.fxstreet-id.com
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.