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Hangover awaits as Opec celebrates
Cheating by members is one reason not to get too delirious about the production cut
Add BT as a preferred sourcePublished Thu, Dec 1, 2016 · 09:50 PM
London
LET Opec celebrate. For now.
The oil club is dizzy with its own success after a harmonious meeting in Vienna, where it surprised the world by agreeing to its first production cut in eight years. Oil prices up 10 per cent? Check. Saudi Arabia and Iran in agreement? Check. Opec and Russia working together? Check. After being left for dead, Opec pulled it off once again.
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