Economics
Four Scenarios for Oil Producers as They Seek to Boost Prices
- OPEC, Russia to discuss market in Algiers in late September
- Output cuts are most unlikely outcome, says Capital Economics
Iran's Oil Output Edges Higher
This article is for subscribers only.
A meeting in Algiers at the end of September between OPEC and Russia -- which together pump more than half the world’s oil -- has raised expectations that a deal could be struck to boost prices.
Oil is still trading at half its 2014 level amid a persistent global oversupply. While a production decline in the U.S. has helped to curb the surplus and prices have risen more than 25 percent this year, swollen inventories across the globe have kept crude below $50 a barrel, too low for many producers to balance their budgets.