THE rally in oil prices sparked by several mentions of possible production cuts by Opec (Organisation of Petroleum Exporting Countries)-related ministers may not be sustainable until full cooperation is obtained from Opec and non-Opec members.
“Oil price volatility is here to stay until we see committed and concerted efforts by both Opec and non-Opec members to cut production in the oil rebalancing market,’’ said independent economist Lee Heng Guie.
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