Return to oil production cuts in 2019 cannot be ruled out – OPEC source

A return to oil production cuts by OPEC and its allies next year cannot be ruled out, a senior OPEC source said on Wednesday, to avert a possible supply glut that could weigh on prices.

The source was responding to a report by Russia’s TASS news agency that Russia and Saudi Arabia had started bilateral discussions over possible curbs to output in 2019.

A second delegate from the Organization of the Petroleum Exporting Countries, asked whether discussions pointed to a return to supply cuts in 2019, said: “Certainly not the other way around”…

 

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