Fitch: OPEC Deal A Big Step Towards Market Rebalancing
Fitch Ratings-Moscow/London-01 December 2016 OPEC’s agreement to cut production by 1.2 million barrels of oil per day, and the potential agreement to cut with non-OPEC countries, should help accelerate market re-balancing and increases the chances of more rapid oil price recovery than previously expected, says Fitch Ratings. But implementation risks remain, including OPEC’s adherence to the agreement and the willingness of other participants, notably Russia, to co-operate […]