Talks between Saudi Arabia, Venezuela, Russia, Mexico yielded no agreement on addressing a growing oil glut

26-Nov-14
Talks between Saudi Arabia, Venezuela, Russia and Mexico yielded no agreement on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices, as per Reuters. Energy officials from non OPEC nations of Russia and Mexico rushed to Vienna to address OPEC kingpin Saudi Arabia on the 30% price fall since June. This impromptu meet precedes OPEC's output meeting in Vienna on Thursday, and have led to speculation that Riyadh might back a coordinated cut involving non-OPEC members.
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Shin Ruey Taiwan PP stationery sheet extrusion machine