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Opec agreement to cut oil production faces array of hurdles

Posted on 30 September 2016

Reports of the cartel’s demise were exaggerated — but who will cut output, and when? As he emerged from nearly five hours of talks in Algiers on Wednesday evening, Iran’s oil minister Bijan Zanganeh stopped to speak to reporters.
“Opec made an exceptional decision,” he said, as the Saudi energy minister left the meeting without taking questions. After two years of squabbling, the cartel had finally crafted a provisional deal to cut production and tackle the global supply glut in crude oil………………………………………Full Article: Source


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