Comments from a leading Saudi Arabian official on Friday have led markets to reassess the prospect of a deal being done in Doha later this month to freeze OPEC and Russian oil production. In our view, some sort of compromise agreement is still likely, even without Iran’s full participation. However, while a Doha deal might help to set a floor under oil prices, a sustained recovery will probably require outright cuts in global supply as well as further increases in demand to rebalance the market.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services