The agreement among OPEC members to cut production reached on September 28 caught the energy world by surprise, sending prices shooting up and eliciting estimates of price shocks from market prognosticators, including Goldman Sachs . The announcement marks the first time OPEC has managed production since 2008, when production quotas were abandoned in the face of the global economic crisis. But with a little bit of time, enthusiasm for the proposed deal, which has yet to be finalized has cooled into wary skepticism . With so many caveats, potential pitfalls and likely obstacles to a lasting accord, OPECs capacity to deliver on its Wednesday announcement is widely being called into question . While markets continued to climb on the back of the OPEC announcement, with WTI closing above $48 on Friday while Brent stayed above $50 for the first time since early September. Nonetheless, there’s good reason to suspect […]