OPEC refused to limit oil production again

oil_production

Once again representatives of OPEC countries could not agree on limiting oil production.

It was reported by Reuters with reference to one of the participants of the meeting, held on Thursday, June 2 in Vienna at the headquarters of the organization.

In addition, it was reported that Mohammed Barkindo from Nigeria was elected the new Secretary General of OPEC.

The price of Brent crude oil on London’s ICE has decreased by 1.68%, to $48.9 per barrel. WTI crude fell by nearly 2%, to $48.05.

At the last meeting of the Organization of Petroleum Exporting Countries, held in Doha on April 17, an agreement to freeze oil production has not been reached.

The Organization of Petroleum Exporting Countries (OPEC) is an international intergovernmental organization for oil-producing countries: Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Libya, the United Arab Emirates, Algeria, Nigeria, Ecuador, Angola and Indonesia.

Source: Lenta.Ru

 

Image: Spencer Platt / Getty Images