OPEC and Allies Gives Mixed Signals Over Further Action on Cuts
- Kuwait, Russia say it’s too early to consider deal extension
- Ministers meet on Friday in Vienna to discuss supply curbs
Does OPEC Have Any Fight Left in It?
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On the eve of a gathering in Vienna, OPEC and its allies gave mixed signals on what they might do next in their bid to clear a global oil glut.
Ministers from nations that together pump more than half the world’s oil at times made conflicting statements about whether they would use their meeting on Friday to address perceived shortcomings in their agreement. While their production cuts have shown signs of success in recent months, the market could return to surplus next year if the group allows the accord to expire at the end of March.