Russia Likely To Propose Major Output Cut At Next OPEC+ Meeting ...Middle East

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Russia Likely To Propose Major Output Cut At Next OPEC+ Meeting
source : OILPRICE ( Middle East ) () 21
Russia is likely to propose at the next OPEC+ meeting that the group cut 1 million barrels per day from the group's collective output, Reuters sources familiar with Russian thinking shared on Tuesday. The news comes just a day after comments made at Monday's APPEC's oil conference that suggested global oil stocks are set to rise next year amid weak demand and a strong dollar—and that OPEC would have to cut output if they wanted to keep prices from falling further. OPEC would have to make oil cuts between 500,000 and 1 million bpd to keep…

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