Opec's new challenge: how to become less oil centric

CAPPING production even at the current high levels has proved a huge challenge for oil producers and yielded the infamous Doha outcome recently.

The Gulf politics that derailed the bid will not be easily healed and market rebalancing underway should avoid further embarrassment.

Opec members will still be pleased that Brent prices have vaulted by more than half from the nadir in January, primarily on their, sometimes contradictory, talk of impending action. A soft US dollar has helped, too, in erasing the market panic of early this year.