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
Nvidia CEO Jensen Huang steps down
DEWA reports record-breaking AED25.74 billion revenue in 2026
Nakheel unveils new sustainable community beside Palm Jebel Ali
Dubai showcases latest innovations in electric, smart mobility
