On Nov. 30, OPEC heralded a new agreement to reduce the cartel’s collective production, in concert with many other large producing, non-OPEC states, by as much as 1.8 million barrels per day (“MMBbls/d”). The agreement is important for several reasons. First, it shows that the cartel can, if pushed, herd its unruly members into a
Insight: Reading the tea leaves
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