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The Vienna Deal: Only Temporary Relief in Oil Markets

Summary:
photo: Global Panorama The Vienna agreement among OPEC and non-OPEC oil producers will extend oil cuts by nine months. After the deal, oil price plummeted by about 5 percent. Far more is needed to subdue new economic uncertainty and market volatility. Among the oil insiders, the decision to extend oil production cuts was seen as a ...

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photo: Global Panorama The Vienna agreement among OPEC and non-OPEC oil producers will extend oil cuts by nine months. After the deal, oil price plummeted by about 5 percent. Far more is needed to subdue new economic uncertainty and market volatility. Among the oil insiders, the decision to extend oil production cuts was seen as a […]
Dan Steinbock
Dan Steinbock (born 1954) is a global economic and policy analyst. He is an internationally recognized expert of the multipolar world and the founder of Difference Group, which “guides clients in the new risk environment" focusing on international business, international relations, investment and risk, and markets across advanced, emerging and developing economies.”

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