All eyes are on Saudi Arabia and other big producers as the oil price hovers around $40 a barrel Bilal Qabalan/AFP/GettyOil prices could be headed back below $40 a barrel, with a deal this week between the world’s top exporters looking increasingly remote. Opec meets for three-day talks in Algiers tomorrow, with the cartel still divided on its response to oil’s price slump. Brent crude fell sharply to under $46 a barrel on Friday, as hopes of a production cut faded. Analysts at Citigroup said the price could slide below $40 unless big producers led by Saudi Arabia can hammer out a deal to pump less crude. Forecasters at Macquarie Group, meanwhile, said that even if a production freeze can…

Source: The Times September 24, 2016 23:01 UTC