Oil nations look at extending supply cut

  |   World News

The move initially pushed up the oil price, but it has dropped in the last few weeks on fears the limits would not be enough to deal with an oil glut.

Opec countries and 11 other oil-producing nations, including Russia, agreed in December 2016 to slash production, the first time in 15 years that a global pact had been struck.

The oil countries now need to show "discipline" and cut back on production in the coming months because stocks are still too high, he said.

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