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Commodities Briefing - Categorized | Market Moves, Oil more

Economics of an OPEC deal make a lot of sense

Posted on 22 November 2016

Not only will OPEC reach a deal this month, but Goldman Sachs’ global head of commodities research said the cartel will have to “take it to conclusion” once the process starts.
OPEC members and noncartel producers have been working on an agreement to freeze oil production increases and reduce ouput. In September, the Organization of the Petroleum Exporting Countries said it would look to cut production to between 32.5 million and 33 million barrels a day…………………………………….Full Article: Source


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