OPEC is now talking about moves to support oil prices [MSN Money]
Citigroup, Inc. (C)
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Source: MSN Money
(Bloomberg) -- OPEC is enduring one of the most head-spinning years in its history, swerving from cutting oil production to boosting it as quickly as possible. Now it’s talking about reversing course again. Ministers from the group gathering in Abu Dhabi this weekend will discuss the possibility of cutting production again next year, according to delegates, a move that would mark an abrupt end to six months of supply increases. The group is responding to a worrying prospect: Even though U.S. sanctions on Iran are removing significant amounts of crude from world markets, a fresh surge of American shale oil threatens to unleash a new surplus in 2019. Some members are concerned that inventories are rising, said the delegates, who asked not to be named as the discussions are private. Crude prices already reflect this. Brent for January delivery has retreated about 15 percent from a four-year high reached in early October. The Organization of Petroleum Exporting Countries and its a
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C
Earnings
- 4/12/24 - Beat
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Sec Filings
- 4/23/24 - Form 424B2
- 4/23/24 - Form 424B2
- 4/23/24 - Form 424B2
- C's page on the SEC website