OPEC AGREES TO CUT PRODUCTION FOR FIRST TIME SINCE 2008

Sep 28, 2016

By Bob Komsic

Share on
The Organization of Petroleum Exporting Countries (OPEC) has reportedly agreed to cut its oil output for the first time in eight years.
The group’s leader Saudi Arabia is softening its stance amid mounting pressure from low crude prices.
Iran’s oil minister said ”OPEC made an exceptional decision,” without giving any details.
opec
How much each country member will produce is to be decided at the next formal meeting in November, when an invitation to join cuts could also be extended to non-OPEC countries like Russia.
OPEC will reportedly reduce output to 32.5-million barrels per day from 33.24-million.
Saudi Arabia’s by far the largest producer with output of more than 10.7-million barrels per day, on par with the U.S. and Russia.
Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: