OPEC Expected to Cut Oil Output Despite Trump, Survey Shows

Prices have crashed amid booming U.S. output and waning demand
Thirty-one of 36 analysts predict a deal to curtail supplies

Oil Rebounds From One-Year Low as OPEC Decision Looms

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By Grant Smith, Jessica Summers, and Ann Koh

November 27, 2018 at 11:47 AM UTC

Updated on

November 27, 2018 at 2:54 PM UTC

This article is for subscribers only.

OPEC and its allies will announce production cuts to check a slump in oil prices when they meet next week, defying pressure from U.S. President Donald Trump, according to a Bloomberg survey.

Thirty-one of 36 analysts and traders in a global poll predicted that the coalition of producers known as OPEC+, led by Saudi Arabia and Russia, will announce output curbs when it gathers on Dec. 6 to 7. The average estimate for the size of the cut was 1.1 million barrels a day.