OPEC, Allies Struggle to Fully Deliver Pledged Oil Output Boost

published:21/10/2018 08:14 GMT

OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola. The Organization of the Petroleum Exporting Countries and allies agreed in June to boost supply as U.S. President Donald Trump urged producers to offset losses caused by sanctions on Iran and to dampen rising prices. Saudi Energy Minister Khalid al-Falih said OPEC and...More