Oil producers aim to agree a framework for long-term cooperation to ensure oil market balancing when Opec and non-Opec members meet in Vienna in December.
Stressing the need for oil producers to stick together for the good of the global economy as Iran faces renewed US sanctions, Opec secretary-general Mohammed Sanusi Barkindo said on Tuesday in Fujairah that an agreement between Opec and non-members that cut production and helped bring prices back up from lows of $30 a barrel in January 2016 was now “a permanent feature.”
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