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OPEC and its partners will not deepen their oil production cut yet but will discuss the topic again in December. This is what Saudi Arabia’s newly appointed Energy Minister Abdulaziz bin Salman told media after this week’s meeting of the Joint Ministerial Monitoring Committee. A discussion, however, may not be enough. OPEC may be forced to decide to cut deeper to prevent a major slump in prices. Also on rt.com Russia braces for possible US sanctions against its oil major Rosneft When OPEC agreed to cut 1.2 million bpd from the global market in December l
oil prices may slump heavily in 2020
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