OPEC says a price near $60 will avoid added shale production
Recently renewed talks of a production freeze among OPEC and some non-OPEC producers including Russia have helped to bolster the price of oil in recent weeks, but the organization may not try to raise oil prices beyond $60 per barrel for fear of a renewed glut.

On Monday, Russian Energy Minister Alexander Novak and his Saudi Arabian counterpart, Khalid al-Falih, met on the sidelines of the Group of 20 summit in China. A joint statement released by the ministers said “there is an i...


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