OPEC Will Extend The Cut

There will be an OPEC deal extension—no matter the public
tussling between opposing forces in the industry cartel—if the
world’s largest oil producers are really determined to end the
supply glut. A failure to agree on the market remediation would
cause oil prices to plummet immediately, forfeiting any gains that
have been made in the last year. Saudi Arabia needs $60 per barrel
for its Aramco initial public offering to be a success in the
second half of next year. It plans to sell just five percent of its
prized company in the…

There will be an OPEC deal extension—no matter the public
tussling between opposing forces in the industry cartel—if the
world’s largest oil producers are really determined to end the
supply glut. A failure to agree on the market remediation would
cause oil prices to plummet immediately, forfeiting any gains that
have been made in the last year. Saudi Arabia needs $60 per barrel
for its Aramco initial public offering to be a success in the
second half of next year. It plans to sell just five percent of its
prized company in the…