| Oil nations meeting next month may be more willing to cap production at current levels rather than cut output, according to Suhaimi Ilias, group chief economist, Maybank Investment Bank.
“It is possible that the Organisation of Petroleum Exporting Countries (Opec), perhaps together with the likes of Russia, may cap output at current levels at next month’s meeting (in Algeria from Sept 26-28) but we are less optimistic of a cut in output,” said Suhaimi. While a similar initiative failed in April, an agreement can now be reached as Saudi Arabia, Iran, Iraq and non-member Russia are producing at, or close to, maximum capacity, former Opec president..............................................Full Article: Source
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