Despite a checkered past with sticking to crude production cuts, there is a compelling case that OPEC and other key oil producers will rein in output over the next six months, argues S&P Global Platts associate editorial director Paul Hickin. Even half measures could be enough to accelerate the market's rebalancing as long as Russia stays on board.
Curious about more aspects of the OPEC agreement? Read our related news reports:
- Analysis: Asia sees OPEC deal could spark arb crude flows from west
- US tight oil producers get lifeline in OPEC deal, but remain cautious
- Analysis: OPEC output deal a bet on Saudi Arabia's market calculations
- Indonesia's oil supply security unlikely to be affected by OPEC withdrawal
Also listen to a special episode of Capitol Crude, featuring former co-host Herman Wang spilling all the details of the deal.