OPEC Seeks Approval For Slashing 500,000 Barrels of Oil From the Supply Chain

  • Dec 09, 2019 AEDT
  • Team Kalkine

OPEC seeks to slash out further 500,000 barrels of crude oil per day from the supply chain during the first quarter of the year 2020.

  • OPEC and aligned members pump-in over 40 per cent of the overall global crude oil supply, and the cartel is looking to control the prices again in the international market.
  • The current global market is largely oversupplied over the production increase from non-OPEC members, especially the United States.

 

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