Try as they might, members of the Organization of the Petroleum Exporting Countries (OPEC) will have a difficult time finding consensus on oil production levels when the cartel members gather in Vienna later this month.
The members of OPEC, along with Russia and a handful of smaller non-OPEC producer countries, has, for the most part, achieved its 2016 goal of rebalancing the world’s oil markets by draining national stockpiles and pushing the international benchmark price of oil to roughly $75 a barrel. The revenues of OPEC countries are now at their highest levels since oil prices collapsed in 2014.
