OPEC failed to agree on limitation of production

OPEC failed to agree on limitation of production

VIENNA (Reuters) – Representatives of the Organization of Petroleum Exporting Countries (OPEC) decided to keep the policy in the oil market, told Reuters one of the delegates to the OPEC summit. This means that the cartel decided not to fix the level of the maximum amount of oil OPEC participants, said a delegate.

Another source told Reuters that OPEC’s final communiqué made no mention of oil production ceiling.

Two summit delegate told Reuters that the Secretary General of the cartel was elected representative of Nigeria, the former head of NNPC state oil company, Mohammed Barkindo.

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