U.S. | OPEC and the art of the deal

Summary

OPEC has agreed to cut production to 32.5 million b/d. The agreement includes an additional 600,000 barrels of cuts from non-OPEC countries. Implementation and monitoring could be hampered by geopolitical factors. The deal should be seen as an effort to stabilize the market rather than as a measure to trigger a rapid and sustained increase in prices.

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