As Compliance Slips, OPEC Decides To ‘Reconsider’ Output Deal

While the oil market is focused on the U.S. inventory draws
and crude oil production, OPEC is not letting investors forget the
cartel’s jawboning weapon—the ‘deeper/longer cuts’ narrative.
Kuwait’s oil minister Essam al-Marzouq said on Monday that OPEC’s
November meeting would discuss the fate of the current
agreement–whether it would extend the cuts further or decide to
terminate it. “At our next meeting at the end of November…the
most important items will concern the fate of the agreement to
extend…

While the oil market is focused on the U.S. inventory draws
and crude oil production, OPEC is not letting investors forget the
cartel’s jawboning weapon—the ‘deeper/longer cuts’ narrative.
Kuwait’s oil minister Essam al-Marzouq said on Monday that OPEC’s
November meeting would discuss the fate of the current
agreement–whether it would extend the cuts further or decide to
terminate it. “At our next meeting at the end of November…the
most important items will concern the fate of the agreement to
extend…