OPEC Freeze Wouldn’t Be So Potent as Gulf Rivals Pump More

  • Saudi, Iranian output up 1 million barrels a day since January
  • Freezing at current level delays re-balancing by a year: PVM

Oil Rallies on the Back of Frozen Hope

Even if OPEC strikes a deal with Russia next month in Algiers to freeze oil production, success will mean a lot less than when they tried and failed four months ago.

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