Live Breaking News & Updates on It Oil Production Cut
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barrels per day injuly, which is around 1% of global supplies. opec plus countries which account for around 40% of the world s crude oil said they would cut production by some 1.4 million barrels per day from the start of next year. but not all members of the cartel were happy, with nigeria and angola both wanting to raise production rather than cut it. sameer hashmi is our middle east business correspondent. let see how prices are faring just now. brent is currently up 1.5% so far in the day but keep an eye on it because there is a lot of volatility as you might expect as investors and traders try to work out exactly what the production cut could mean. sameer hashmi is our middle east business correspondent. perhaps not unexpected, this is what we expected, it cuts production and keeps prices up and we know how reliant many are on the revenue it creates but it will not go down well around the world. two creates but it will not go down well around the world. create ....
The uae had been asked to increase production, so even though some countries like nigeria, angola and possibly russia will make cuts, uae will raise production so it might balance out. it is too early to say whether the 1.4 million barrels of oil cut next year will have an impact on the ground. oil out next year will have an impact on the ground.- oil cut next year will have an impact on the ground. good to talk to ou impact on the ground. good to talk to you and impact on the ground. good to talk to you and thank impact on the ground. good to talk to you and thank you impact on the ground. good to talk to you and thank you for impact on the ground. good to talk to you and thank you for being - impact on the ground. good to talkj to you and thank you for being with us for the latest on it oil production cut, as they try to keep prices higher. here in the uk, a new business lobby group has been formed, boasting some of the uk s largest companies as its founding partners. the busi ....