Russia and Saudi Arabia have increased their oil production to record levels in recent months. Commenting this situation, Iran’s representative to OPEC Hossein Kazempour Ardebili said:
“The two have to cut. The minimum they have to cut is 1 million barrels a day.”
Later, US weekly data on Crude Oil Inventories and supply showed record rates of production that additionally put pressure to Crude Oil prices.
Submitted November 09, 2018 at 05:43AM by FxProNews https://ift.tt/2PfK4Mu
