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Get ready for $40 oil if OPEC deal collapses

Posted on 29 November 2016

It’s time for the oil industry’s favorite guessing game: Will OPEC continue to flood the world with more oil, or will it finally blink and cut production? OPEC reached a preliminary deal to much fanfare in September to cut output for the first time since 2008. That tentative agreement sent crude soaring above $50 a barrel.
But there’s lingering skepticism over whether OPEC can really keep its word at Wednesday’s meeting in Vienna. Internal squabbling among OPEC members — especially Iran, Iraq and Saudi Arabia — has made a concrete agreement difficult to achieve………………………………………..Full Article: Source


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