Oil
This Could Send Oil Prices Soaring Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), supports freezing oil production increases. Last week, Saudi Arabia and Russia, along with other OPEC members, agreed not to raise oil output to stabilize prices. But, Libya would like to…
Russia, Saudi Arabia, Qatar, and Venezuela have agreed to freeze production. Will this finally help to support oil prices? Not yet. Skepticism abounds. Even if Saudi Arabia and Russia have agreed to freeze oil production, the markets had expected an actual cut in production. The current arrangement provides…