RE: BP good run24 May 2018 18:42
Russia and Saudi Arabia’s energy ministers will discuss a relaxation of the global oil production cap agreed between Opec and Moscow, amid calls for oil producers to boost output after supply cuts helped drive prices to around $80 a barrel.
The historic 2016 agreement between the previous oil market rivals helped arrest a sliding crude price by reducing global output by 1.8m barrels a day. But collapsing production in Venezuela and fears over the impact of renewed US sanctions on Iran output have seen prices jump, sparking calls for a rethink.