Crude may finally see some stability in 2017 according to OPEC Secretary-General Mohammed Barkindo. He is back in Caracas for the second time in 2 months meeting with President Nicolas Maduro who over the last two years has been lobbying globally for output cuts. Maduro at the press conference said that he hoped the accord between OPEC, Russia and other non-members reached in late 2016 will help raise Venezuela’s crude basket to $60 in the first half and $70 in the second.

More at Reuters

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