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Venezuela proposes non-OPEC countries cut 400-500K of production

Comments from Del Pino

Venezuelan and Russian oil ministers met in Moscow today and suggested non-OPEC countries remove 400-500K of supply to supplement OPEC quotas.

The initial reaction from Moscow suggests the proposal didn't get far.

It's shaping up like the best realistic deal is for some non-OPEC and OPEC countries to freeze output but expect the quotas to be routinely violated.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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