, Columnist
It's a Dangerous Moment for OPEC
The impact of Hurricane Harvey and the Kurdish referendum create the risk of a policy mistake.
This article is for subscribers only.
Oil prices are recovering. U.S. storm damage and strengthening economies may have finally dislodged sentiment away from resignation to a future of low oil prices.
That's the story, but it isn't the whole picture. And while OPEC and other countries that have cut production will undoubtedly take comfort from Brent near $60 a barrel, they should be wary of taking too much of the credit and certainly can't relax their output restraint. They are not yet out of the woods.