Oil prices: OPEC reaches a deal to cut production

Print section
Print Rubric: 

Could an OPEC deal mark the beginning of the end of cheap oil?

Print Headline: 

Viennese waltz

Print Fly Title: 

Oil prices

UK Only Article: 
standard article

Issue: 

Why a strengthening dollar is bad for the world economy

Fly Title: 

Oil prices

Location: 

VIENNA

Main image: 

20161203_FNP001_0.jpg

EXACTLY two years after Saudi Arabia coaxed its fellow OPEC members into letting market forces set the oil price, it has performed a nifty half-pirouette. On November 30th it led members of the oil producers’ cartel in a pledge to remove 1.2m barrels a day (b/d) from global oil production, if non-OPEC countries such as Russia chip in with a further 600,000 b/d. That would amount to almost 2% of global production, far more than markets expected. It showed that OPEC is not …

View full post on Commodity Markets

Similar Topics:

This entry was posted in Analysis and tagged , , , , . Bookmark the permalink.

Leave a Reply