OPEC Seen Failing to Clinch Oil-Output Deal at Algiers Talks
- All but two of 23 analysts see no supply agreement next week
- Iran, Iraq plan higher production; Saudis defend market share
Tiberius Group’s Eibl: OPEC Has Become a Toothless Tiger
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OPEC probably won’t clinch a deal to limit oil production in Algiers next week as members stay focused on either boosting output or defending their market share, according to a Bloomberg survey.
The Organization of Petroleum Exporting Countries, which will hold informal talks with Russia on Sept. 28, faces the same internal rivalries that thwarted an agreement in April, according to all but two of 23 analysts surveyed. Iran and Iraq have signaled their resolve to increase output, while group leader Saudi Arabia is maintaining near-record supply.