Sunday, November 24, 2024

Saudi Arabia Must Push OPEC to Extend Production Cuts

From Stratfor When news broke on Nov. 30, 2016, that OPEC had finally agreed on a deal to cut oil production, its first since 2008, traders sent Brent crude prices leaping 9 percent to break the $50 per barrel threshold. But after the deal was implemented, and despite reduced output among OPEC and non-OPEC producers of 1.4 million to 1.5 million