Oil prices could rise above $50 a barrel should Organisation of Petroleum Exporting Countries (OPEC) come to an agreement to cut oil production on Wednesday. After reaching a preliminary agreement in Algiers in September to cap oil output around 32.5-33 million barrels per day, experts are expecting members of the cartel to thrash out a new agreement which will further cub supply. But rather than looking to boost the oil price, analysts say that OPEC should be looking to achieve a sustainable oil price that avoids the lows seen in February 2016 of $26 per barrel. Sean Evers, Managing Director at Gulf Intelligence, said member states needed to exceed the Algiers agreement.
Sean Evers Managing Director at Gulf Intelligence
BRIDGE Summit drives $200 million deal to boost UAE's media sector
ADCB successfully completes AED6.1 billion rights issue
UAE, Russia to strengthen economic ties
Dubai Duty Free hits AED8 billion retail landmark
UAE and Ireland boost cooperation in tourism and the new economy
