Voya Asia Pacific High Dividend Equity Income Fund T.IAE

OPEC, non-OPEC oil talks on ice.

[Kittyday]

OPEC efforts to bring non-member countries such as Russia on aboard in cutting output have made little progress, officials say, and even the chance of more Iranian exports hitting prices if sanctions end is unlikely to boost cooperation. Since the oil price collapse, top OPEC exporter Saudi Arabia has said it wanted non-OPEC producers to cooperate with the group. But a plan for a meeting between the two sides this month appears to have been shelved. “At first we have been planning to meet in March, but so far no-one has come forward with such an initiative. The situation has calmed down a bit,” Russian Energy Minister Alexander Novak told Reuters. Novak was part of a Russian delegation that held talks with OPEC ministers before OPEC’s November meeting. But no supply cut deal was reached then, OPEC refused to act alone and Brent crude prices fell.
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I guess the top oil Russia companies don't have a high degree of scholarity otherwise they would understand by cutting their oil output by only 5% it would increase their return on investement by "X" billion dollars gains.