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OPEC leaning toward extension of oil supply cut for 9 more months - Reuters

"OPEC is leaning toward extending a deal with Russia and other non-members to cut oil supply for a further nine months, four OPEC sources said," Reuters reported in a recent article.

Key quotes (via Reuters):

  • If demand growth is performing very well, then the decision might be postponed till early next year.
  • But there is still a big chance for it to be taken in November.
  • If a decision is not announced in November, OPEC and its allies could meet in early 2018.
  • Usually, OPEC holds each year’s first policy-setting meeting in May or June.

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