It’s unlikely that OPEC will be able to maintain its planned output cut, according to oil and gas analysts at investment bank Jefferies. It’s unlikely that the Organization of the Petroleum Exporting Countries (OPEC) will be able to maintain its planned output cut, according to oil and gas analysts at investment bank Jefferies. Last month, OPEC nations agreed to reduce output from a current production of 33.24 million barrels per day (MMbpd) to 32.5 MMbpd, in an informal meeting in Algiers. “The Conference concurs that there is firm and common ground that continuous collaborative efforts among producers, both within and outside OPEC, would help restore the balance and sustainability in the market,” OPEC said in a statement at the time. Following the agreement, Jefferies has suggested that the plan lacks detail and believes it is unlikely that production cuts will be achieved. “We remain skeptical that OPEC will be […]