Opec has become averse to setting a price target, perhaps in part because it wants to avoid accusations of manipulating the oil market. Photo: ReutersLondon: We’ve learned two things on the oil policy of Opec and friends from meetings in Muscat, Oman and Davos. As an actual measure of how much oil the world needs to hold in reserve they are pretty useless. And then, no matter whether you measure in barrels or days, there is the problem of the target Opec and friends are trying to reach. The output cuts, planned or otherwise, that Opec and friends have made over the past year have transformed the oil market outlook.

Source: Mint January 28, 2018 15:22 UTC