The last barrel ///

After two long months of toing and froing, OPEC delivered the news that was all but guaranteed to spread some Christmas cheer across the oil patch. Critics had all but written off the idea of an OPEC production cut, when the Vienna-based group announced cuts amounting to 1.25 MMbopd. And in a move that gave the agreement a good deal more credibility, the group even detailed future production levels and how much each member would be expected to cut.

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