5 Dec 2018
Some OPEC+ participants believe no deal will be achieved – TASS source
According to a report by Russian News Agency - TASS, quoting a source, a symbolic cut by Russia may be enough for OPEC to reach a general agreement.
Key points:
• No objection by OPEC if Russia cuts productions gradually like last time.
• Many OPEC members unlikely to cut before March if the deal reached on Jan/Fed contractual obligations.
• Russia so far fails to support Saudi's proposal to cut output by at least 1 million bpd.
• Some OPEC+ participants believe no deal will be achieved.