holding its ministerial meeting on Thursday in the Austrian capital where it is
OPEC members are to discuss extension of the body's production
cut plan to curb the global oil glut and rebalance the market in a bid to push up the prices.
is also scheduled to hold the third meeting with non-OPEC producers to discuss
Russia are heading towards prolonging their oil supply cuts for the whole of
2018 but with an option to review the deal in June, OPEC sources said on
Tuesday after Moscow expressed concerns the market could overheat, Reuters
The Organization of the Petroleum Exporting Countries, Russia and nine other producers are cutting crude output by about 1.8 million barrels per day until March 2018, and on Thursday their oil ministers will discuss extending the deal.
market had largely expected OPEC to prolong the cuts until the end of 2018 to
prop up prices and clear an excess of global stocks, but doubts have emerged in
the last few days.