The oil producers of the world are becoming serious about production. Getting OPEC member nations to live up to their commitments for cuts has always been a challenge right from the beginning. Many of them, of course, have few alternative economic capacities that would readily offset reductions in each respective energy space. Its one way in which global oil prices are more inelastic than modeled supply/demand curves.
Despite that, Bloomberg reported a few weeks ago that October was the first month in which all OPEC members honored their reductions. Not only were member states in…

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