A few days from the next meeting of the Organization of oil-producing countries (OPEC), scheduled for the 30th of November, Saudi Arabia, one of the countries with the highest weight in the global petroleum market, was expressed in favour of the extent of cuts in production. The agreement goes until March 2018, however, it is possible that the extension will go to the end of next year.
Other countries such as Russia and Nigeria, also participating in the cartel, have already expressed themselves in favour of another extension within the deadline of the cuts agreement in pursuit of the appreciation of the "black Gold".
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