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Monday crude losses and output surges underscores FGE Head calling for OPEC cutback extension - to the end of 2018

Oil
 

Fereidun Fesharaki, founder and chairman of FGE, joined the ranks of experts who believe that the Organization of the Petroleum Exporting Countries (OPEC) is certain to extend its crude cutback initiative to the end of this year; however, contrary to the upbeat rhetoric issued by the cartel during the first six months of its cutbacks, he says market conditions are such that members and non-members will have to keep limiting production until as late as the end of 2018.

 

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