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Sunday, April 30, 2017
Egypt may become the latest non-OPEC producer to join in on the group’s production cap according to OPEC General Secretary, Mohamed Barkindo. If Egypt joins in on the production cut, it will be the 12thnon-OPEC producer to do so. Crude producers not part of the cartel that have agreed to rein in production include Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, Russia, and fellow African producers Equatorial Guinea, Sudan and South Sudan. Speaking at a press conference, Barkindo said OPEC expects other producers joining the agreement and Egypt to be part of it.
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