Kuwait Sees No Crude Oil Summit Before OPEC’s December Meet
$OIL
Venezuela has been pushing for an emergency OPEC meeting, no go…
Kuwait’s Oil Minister Ali al-Omair said Monday he does not believe there would be a Summit of Crude Oil producing countries before OPEC’s next meeting in December.
The Minister of the Gulf OPEC member told reporters that the problem was that countries from outside OPEC are not committed to what they would offer to stabilize prices.
He was responding to a question on a Venezuelan proposal for an OPEC and non-OPEC heads of states Summit.
Cash-strapped Venezuela has for months been pushing for an emergency OPEC meeting with Russia to halt the fall in Crude Oil prices.
| HeffX-LTN Analysis for OIL: | Overall | Short | Intermediate | Long |
| Bearish (-0.32) | Neutral (-0.09) | Bearish (-0.40) | Bearish (-0.46) |
Stay tuned…
HeffX-LTN
Paul Ebeling
The post Kuwait Sees No Crude Oil Summit Before OPEC’s December Meet appeared first on Live Trading News.