The chances of a meaningful production cut being agreed at OPEC’s meeting in Vienna next week look remote at best. The 14-member cartel will debate a proposal for a 4.0-4.5% production cut, and it may even reach an agreement to that effect that it could invite non-OPEC member Russia to join. But this will not lead to a resumption of production quotas for members. More likely it will be framed as a general statement that the oil market is on course to stabilise, and that...
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