, Columnist
Africa Is OPEC's Biggest Danger
If Libya and Nigeria recover, we might need a new deal.
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Through compromise and arm-twisting, OPEC oil ministers managed to put flesh on the bones of the output cut they announced in Algeria in September. But their hard work might be undermined by the countries exempted from the deal: Libya and Nigeria.
Much of the 1.166 million barrels a day of agreed cuts could be offset by increases from these two countries -- at least, if things go as their governments hope.