OPEC, non-OPEC oil producers meet on Monday to discuss oil production
DSIJ Intelligence / 24 Jul 2017
On Monday, oil prices gained in Asian markets ahead of the meeting of Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries regarding oil production.
On Monday, oil prices gained in Asian markets ahead of the meeting of Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries regarding oil production. During Friday’s trading session, the oil prices had a steep fall by more than 2%.
OPEC and non-OPEC members. Ministers from the OPEC and other non-OPEC producers are going to gather in the Russian city of St Petersburg on Monday and are going to discuss the issue of rising oil production in Nigeria and Libya which were earlier exempted from the production cut.
Experts believe that a conditional cap is likely to be put on the oil production in Nigeria and Libya to boost the oil prices by the members. Tyre stocks and aviation stocks in the Indian share markets would be in focus as they generally move in opposite direction of oil prices in the international market.
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