OPEC , Russia and several other oil producers have been cutting Cause.movement.down.loss output since January 2017 in an attempt to ease global oversupply Oversupply and prop up Cause.movement.up.gain prices .

Now , either OPEC agrees to put a floor under prices in the short-term , or a prolonged period of lower Movement.down.loss prices starts to cut Movement.down.loss long-term investment or prop up Cause.movement.up.gain demand growth , he says .

Fellow Gulf Arab ally and OPEC exporter Kuwait has already said that OPEC is unlikely to cut Cause.movement.down.loss oil production in an effort to prop up Cause.movement.up.gain prices because such a move would not necessarily be effective .

U.S. shale drillers plans to prop up Cause.movement.up.gain its supply in the Permian Basin , the energy giant announced Tuesday .

-LRB- Bloomberg -RRB- -- OPEC and its allies look set to stick with their current strategy when they meet next week , renewing a deal to restrain Cause.movement.down.loss oil supplies to prop up Cause.movement.up.gain prices .

Organization of Petroleum Exporting Countries also refused last week to disrupt Cause.movement.down.loss processing to prop up Cause.movement.up.gain prices , sending Brent crude prices to a five-year low Position.low this week .

OPEC has been cutting Cause.movement.down.loss crude output by 1.8 million barrels per day -LRB- bpd -RRB- to prop up Cause.movement.up.gain oil prices .

Organization of Petroleum Exporting Countries also refused last week to squeeze Cause.movement.down.loss output to prop up Cause.movement.up.gain prices , sending Brent crude prices to a five-year low Position.low this week .