BLOOMBERG.COM
An OPEC deal to cut oil output at a meeting this month is looking increasingly unlikely, with failure warranting prices in the low-$40s, according to Goldman Sachs Group Inc. “The lack of progress on implementing production quotas and the growing discord between OPEC producers suggests a declining probability of reaching a deal on November 30,” Goldman analysts including Damien Courvalin wrote in a note dated Oct. 31. Obstacles to a supply agreement remain formidable, Greg Sharenow, a Pimco portfolio manager, said in an e-mailed note on Tuesday.
Read more>
An OPEC deal to cut oil output at a meeting this month is looking increasingly unlikely, with failure warranting prices in the low-$40s, according to Goldman Sachs Group Inc. “The lack of progress on implementing production quotas and the growing discord between OPEC producers suggests a declining probability of reaching a deal on November 30,” Goldman analysts including Damien Courvalin wrote in a note dated Oct. 31. Obstacles to a supply agreement remain formidable, Greg Sharenow, a Pimco portfolio manager, said in an e-mailed note on Tuesday.
Read more>