Monday, February 13, 2017

Adherence To Cuts Has Been Tricky In The Past

OPEC producers really are pumping less, boosting crude prices

Oil prices jumped as much as two percent on Friday on word that OPEC producers have achieved around 92 percent of the output cuts they had pledged. Eleven members of the Organisation of the Petroleum Exporting Countries had agreed to pump less from January to raise prices. Previous such deals had much lower compliance – initially…