Related Articles
Leaders
Forward article link
Share PDF with colleagues

Opec - now for the hard part

Opec's Algiers deal has put a floor in prices - but the group must give the market real details at its end-November meeting

Trading on faith if not a suspension of disbelief, oil prices have found a floor at about $50 a barrel. Short of a major geopolitical shock, a price surge is not on its way. But the Opec deal announced at the end of September has wiped out many of the market's shorts. Now, to keep some modest price momentum-and the bears at bay-the group must deliver real cuts with real details at its Vienna meeting on 30 November. Start with the obvious. Saudi Arabia's change of tack is not a head fake. The kingdom's new oil minister, Khalid al-Falih, has been signalling since the last Opec meeting in June that he wanted to reanimate the group and restore its purpose. The kingdom's economy has weakened, it

Also in this section
What can Opec do?
24 July 2017
The supply deal is stuck in limbo—the cutters have complied but stocks remain high and prices weak. What now?
Can Opec get its mojo back in St Petersburg?
19 July 2017
Ecuador is doing what other members wish to—ditching a supply deal that has become more painful than gainful. Saudi Arabia needs to revive momentum
Energy technologies mapped out
13 July 2017
Much bolder policy decisions are needed if technology is to help us reach our climate goals, says the IEA