OPEC and its allies indicated they weren’t planning any big changes to their supply deal, even as oil prices remain below $50 a barrel amid growing skepticism that their output cuts are working.
Capping rising oil production from Nigeria and Libya – both exempt from the current agreement – won’t be on the agenda at the meeting on Monday in St. Petersburg, Russia, said two people familiar with the planned talks. There’ll be no discussion of deeper cuts, Saudi Minister of Energy and Industry Khalid Al-Falih told reporters before the gathering.
