After the Organization of the Petroleum Exporting Countries and a large group of non-OPEC countries had reached the “historic” agreement to cut oil production, the prices jumped comfortably above $50 per barrel.
So, is this a great OPEC comeback or just a short intermezzo before the cartel’s long-forecasted slide to irrelevance? The New Arab, or Al-Araby Al-Jadeed in Arabic, spoke about the matter with Sijbren de Jong (HCSS) and Cyril Widdershoven (MEA Risk LCC). The full article can be read here.