OPEC Aims to Extend Production Cuts at Upcoming Ministerial Meeting

OPEC ministers are set to mark the one-year anniversary of their historic production pact with their non-OPEC counterparts on November 30 with oil prices up by a sharp $10 per barrel (/bbl) on average so far this year and oil revenue higher by a significant 25 percent, far outpacing the relatively modest supply cuts by producer countries.

OPEC Aims to Extend Production Cuts at Upcoming Ministerial Meeting
Russian President Vladimir Putin, right, and Saudi Arabia's King Salman pose for a photo during a welcoming ceremony in Moscow, Russia, Oct. 5. (Alexei Nikolsky via AP)

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