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
Netflix cuts about 6% of jobs in biggest layoff since 2022, WSJ reports
Sheikh Maktoum meets Bank of America's Bernard Mensah
Small AI models near self-replication, Anthropic warns
H.H. Sheikh Hamdan praises progress of Dubai Cashless Strategy
DIEZ doubles size of Oraseya Capital fund to AED1 billion
