OPEC for the first time since 2008, has agreed on volumes of reduction of oil production
Representatives of the countries-members of OPEC talks in Vienna have agreed to reduce oil production by 1.2 million barrels per day — up to 32.5 million barrels.
About the agreement, which was reached at the Ministerial meeting of OPEC, according to Bloomberg and Reuters, citing informed sources.
As of 16:33 MSK price of Brent crude oil was $50.02 per bbl, WTI crude oil — $48,50.
OPEC countries failed to agree on reducing oil production for the first time since 2008.
A preliminary agreement on production cuts was achieved at the end of September in Algeria — then it was to reduce production to 32.5−33 million barrels. a day.