The oil-producing nations will decide whether to stick with production cuts they’ve endured for the last three years, relax them or deepen them in the hopes of propping up prices. The nation is already bearing the burden of the largest share of OPEC’s production cuts. So the others can go on cheating?” said Bhushan Bahree, executive director of global oil at research group IHS Markit. AdvertisementAs it stands, OPEC nations have agreed to cut production by 1.2 million barrels per day through March 2020, and most analysts expect OPEC nations to extend those production cuts until at least summer. But substantial cuts may be difficult to achieve with some OPEC members following their own agendas.

Source: Los Angeles Times December 04, 2019 09:11 UTC