Opec’s 4 December Meeting: Can Output Policy Deal Be Preserved?

All the expectations are that Opec will keep its output ceiling unchanged when it meets in Vienna on 4 December. But this won’t be for some members’ want of trying. Opec crude oil production has been over 31mn b/d, that is to say more than 1mn b/d above the organization’s self-imposed 30mn b/d ‘ceiling’ since March. According to MEES estimates it was 31.4mn b/d in October; the IEA pegs it at...