The Traderszone Network

Published in TZ Latest News 4 December, 2015 by The TZ Newswire Staff

OPEC fails to agree production ceiling after Iran pledges to boost output

OPEC members failed to agree an oil production ceiling on Friday at a meeting that ended in acrimony, after Iran said it would not consider any production curbs until it restores output scaled back for years under Western sanctions. A final statement was issued with no mention of a new production ceiling, apparently allowing member countries to continue pumping oil at current rates into a market that has been oversupplied.

read more