Thursday, December 14, 2017 | ePaper

Oil producers 'might have to' extend output cuts: Saudi

  • Print
AFP, Abu Dhabi :
Saudi Arabia's energy minister said on Thursday that oil-producing countries might have to extend output cuts agreed for the first six months of the year in order to achieve the desired rebalancing of the market.
"We might have to extend in order to reach the target... of stock levels," Khalid al-Falih told an energy forum in Abu Dhabi, referring to a deal between OPEC and non-OPEC producers to cut production by around 1.8 million barrels per day.
Falih, whose country is the world's largest exporter, said there was a sort of "initial agreement " on the need to extend the deal after talks in Kuwait last month.
He said producers would continue to assess market figures until next month, when ministers are expected to take a final decision at a meeting in Vienna.
"There was a high level of commitment in the first three months, but despite that, we have not achieved the target" of reducing the supply glut, he said.

More News For this Category

Shafiul Islam, Chairman of Navana CNG Limited, presiding over its 13th AGM at a city convention center on Monday. The AGM approves 15 pc cash dividend for its share holders for the year 2017 ended on 17 June. Senior officials of the company were also present.

Shafiul Islam, Chairman of Navana CNG Limited, presiding over its 13th AGM at a city convention center on Monday. The AGM approves 15 pc cash dividend for its share holders for the year 2017 ended on 17 June. Senior officials of the company were also present.

.

PO, BWCCI agree to work together for increasing productivity

Business Desk :A Memorandum of Understanding (MoU) was signed on Wednesday between the National Productivity Organisation (NPO) and Bangladesh Women Chamber of Commerce and Industries (BWCCI) to increase productivity

Tourism, culture to work together for SDGs

Economic ReporterĀ  :The 2nd UNWTO World Conference on Tourism and Culture Conference was held in Muscat, capital of the Sultanate of Oman on 11-12 December 2017.The International Year for

Matlub Ahmad new President of IBCCI

Matlub Ahmad new President of IBCCI

Business Desk :India-Bangladesh Chamber of Commerce and Industry (IBCCI) have got new office bearers for the tenure of 2017-2019. Immediate Past President of FBCCI and Chairman of Nitol-Niloy Group

'New Bangladesh' campaign launched

Business Desk :RFL, the largest producer of plastic products in the country, has launched a campaign titled 'Bangladesh is not a bottomless basket, we are new Bangladesh' to highlight

ADB upgrades growth outlook for developing Asia to 6pc

Business DeskĀ  :The Asian Development Bank (ADB) forecasts that economic expansion in developing Asia will accelerate to 6 percent in 2017 owing to stronger than expected exports and domestic

Incorporating all in mainstream economy is PM's priority: Muhith

Incorporating all in mainstream economy is PM's priority: Muhith

Business Desk :Finance Minister Abul Maal Abdul Muhith hassaid one of the agenda of Prime Minister Sheikh Hasina is to expedite the country's development through incorporating the economic activities

PM offers SEZ for French companies

BSS, Paris :Prime Minister Sheikh Hasina on Wednesday urged the French companies to set up a Special Economic Zone (SEZ) in Bangladesh saying there is an immense scope for

Speaker of the Bangladesh National Parliament Dr. Shirin Sharmin Chudhury, poses with the participants of Award giving ceremony of Bangladesh StartUp Cup-2017 at a city hotel on Tuesday. The cup is a countrywide StartUp competition and ecosystem building tool launched by the Embassy of the Kingdom of the Netherlands, India-based impact investment firm Aaavishkar and Better Stories Limited. Jeroen Steeghs, Deputy Head of Mission, Lisette Blum, First Secretary (Economic and Political Affairs) of Embassy of the Kingdom of the Netherlands and Heena Khushalani, Programme Manager of Aavishkar among others were present.

Speaker of the Bangladesh National Parliament Dr. Shirin Sharmin Chudhury, poses with the participants of Award giving ceremony of Bangladesh StartUp Cup-2017 at a city hotel on Tuesday. The cup is a countrywide StartUp competition and ecosystem building tool launched by the Embassy of the Kingdom of the Netherlands, India-based impact investment firm Aaavishkar and Better Stories Limited. Jeroen Steeghs, Deputy Head of Mission, Lisette Blum, First Secretary (Economic and Political Affairs) of Embassy of the Kingdom of the Netherlands and Heena Khushalani, Programme Manager of Aavishkar among others were present.

.

Parveen Alam, Chairman of Doreen Power Generations and Systems Limited, presiding over its 10th AGM at a city convention centre on Monday. The AGM approved 10 percent cash and 10 percent stock dividend for its Shareholders. Tahzeeb Alam Siddique, Managing Director, Tanzeer Alam Siddique, Anjabeen Alam Siddique, Directors and Mahtab Bin Ahmed, Independent Director of the company among others were present.

Parveen Alam, Chairman of Doreen Power Generations and Systems Limited, presiding over its 10th AGM at a city convention centre on Monday. The AGM approved 10 percent cash and 10 percent stock dividend for its Shareholders. Tahzeeb Alam Siddique, Managing Director, Tanzeer Alam Siddique, Anjabeen Alam Siddique, Directors and Mahtab Bin Ahmed, Independent Director of the company among others were present.

.