Oil price plunges 4% as OPEC agrees to extend production cuts

Oil price plunges 4% as OPEC agrees to extend production cuts

In the OPEC meeting on Thursday in Viennaand some OPEC members and non-OPEC producers agreed to extend a pledge to cut around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018. "Long-term oil prices will depend on whether United States shale, with its short investment cycle, will be able to fill any potential supply gaps in 2019-2020".

OPEC agrees to extend oil production cuts

Non-Opec oil producers led by Russian Federation agreed yesterday to join Opec (Organisation of Petroleum Exporting Countries ) in extending production cuts for nine months until March 2018, delegates said. OPEC has for weeks been laying the groundwork to extend production cuts. "We have more work to do in lowering inventories toward the last five-year average, but we are on the right track".

Djokovic hoping Agassi can inspire him back to No. 1

Of course the hand doesn't have that power and the strength yet, but I'm working on it. [.] I'm happy that when I'm playing I don't have pain in my hand. "Ten is a nice round number, but I'm hoping personally that he doesn't win it this year obviously, but it would be a great achievement". Now ranked at number seven, could the Austrian replicate his result from a year ago in the French capital? The French Open tennis tounament starts.

Dimensional Fund Advisors LP Sells 338501 Shares of Gastar Exploration Inc (GST)

Williams Capital's target price indicates a potential upside of 66.67% from the stock's current price. The firm owned 1,092,213 shares of the energy company's stock after selling 338,501 shares during the period. Revenue during the period amounted to $18.29M, while analysts were anticipating $17.83M. Analysts predict that Gastar Exploration will post ($0.14) earnings per share for the current fiscal year.