2016-11-08bloomberg.com

The Algiers agreement helped push oil prices to a 15-month high above $50 a barrel, but crude has subsequently fallen as several OPEC states disputed production estimates that would determine the size of cuts required of the group's individual members. OPEC wants to put the changes into effect when it meets in Vienna on Nov. 30.

The group's internal disagreements have so far prevented a deal to secure cooperation from major non-OPEC suppliers such as Russia after rounds of talks in Vienna. The producers will meet again in the Austrian capital later this month. OPEC, which pumps about 40 percent of the world's oil, is trying to persuade suppliers from outside the group to join the cuts. The 14-member group has held talks in the past weeks with producer nations including Russia, Azerbaijan, Brazil, Kazakhstan and Mexico.



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