View full page at forexfactory.com

 

Why OPEC could end failed strategy and strike deal for real on production this time

From cnbc.com

OPEC is expected to deal for real this time, striking some form of agreement when it meets at the end of the month to curb production and stabilize the oil market. The cartel and non-OPEC members have been hashing out what could amount to an agreement to freeze production increases and actually cut back some output. The oil producers have tried and failed to strike a deal in the past, with the bottom line being that Saudi Arabia, the world's largest oil exporter, was not willing to cut or freeze output unless all producers would do the same. "I think the odds are strongly in favor of the deal because Saudi wants the ... (full story)

Story Stats

  • Posted:
  • Category: Breaking News