OPEC+ Can't Afford Not to Act on Oil Amid Trade Wars and Protests - Bloomberg:
In less than two weeks, OPEC and its allies are due to meet to decide on the next phase of their deal for managing the supply of crude oil, and therefore its price. Expect them to decide to do nothing for another six months, kicking the can further down the road even though their own forecasts show a need for deeper cuts to balance the market.
Outlooks for supply and demand indicate that they need to reduce output further during the first half of 2020 if they are to keep inventories from building again. But it looks more likely that the group, known as OPEC+, will risk a period of price weakness that they believe will be short-lived, if it materializes at all.
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