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Opec had better cap output this time

Higher prices should be good for producers and for global inflation expectations.

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Any output freeze will still take several quarters to realign demand and supply as some countries have lately expanded production, adding to the record overhang of crude oil in the rich countries.

IS Opec (Organization of the Petroleum Exporting Countries) finally gearing to end its protracted market share battle or is it playing on market sentiment for price effect? We must wait till month end for an answer. Jawboning helped the cartel early this year to halt a rapid collapse in the