OPEC officials approve group's delayed long-term strategy: sources | Reuters

LONDON OPEC officials approved on Monday a document outlining the exporter group's long-term strategy, which had been delayed by differences over whether it should aim for tighter control of the oil market, two OPEC sources said.The OPEC board of governors, which has been discussing an update of the long-term strategy since 2015, met earlier on Monday in Vienna to discuss the latest version.'It's approved,' one of the sources said, adding the meeting 'went smoothly.' A difference of opinion between Saudi Arabia and Iran over whether the group should state that it aims for 'production management' had contributed to the delay. (Reporting by Alex Lawler; Editing by Susan Thomas)

Reuters October 31, 2016 22:00:06 IST
OPEC officials approve group's delayed long-term strategy: sources
| Reuters

OPEC officials approve groups delayed longterm strategy sources
 Reuters

LONDON OPEC officials approved on Monday a document outlining the exporter group's long-term strategy, which had been delayed by differences over whether it should aim for tighter control of the oil market, two OPEC sources said.The OPEC board of governors, which has been discussing an update of the long-term strategy since 2015, met earlier on Monday in Vienna to discuss the latest version."It's approved," one of the sources said, adding the meeting "went smoothly."

A difference of opinion between Saudi Arabia and Iran over whether the group should state that it aims for "production management" had contributed to the delay.

(Reporting by Alex Lawler; Editing by Susan Thomas)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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