OPEC logo is pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. But officials in Moscow have voiced worries about pricier oil boosting the rouble, which could undermine the competitiveness of Russia's economy.U.S. producers aggressively hedged their future production as oil recently rallied, raising fears of another spike in shale output in the United States, which is not participating in the global production curbs. "Russia is on board for the extension," one of the OPEC sources said following the committee meeting.Goldman Sachs, one of the most active banks in commodity trading and oil producer hedging, said on Tuesday in a note the outcome of the OPEC meeting was uncertain as Brent oil had risen above $63 per barrel. The latest figures suggest OPEC is more than halfway there, with OPEC sources saying the target could be reached after June 2018.

Source: Egypt Today November 28, 2017 17:15 UTC