Even if OPEC complies with its production cut targets, depending on natural crude production declines in non-OPEC countries won’t remove enough crude inventory to reset the market, analysts say. Although the non-OPEC – or NOPEC – countries’ plan to trim crude production fell short of the November target, analysts by and large say the Dec. 10 accord is a net positive: It showed these producer-nations are finally willing to come to the table . By OPEC’s estimation, 11 non-OPEC countries agreed to cut their production by 558,000 barrels per day (bpd) – a goal that falls short of OPEC’s declaration by 42,000 bpd. The reduction begins with OPEC’s target date of Jan. 1 and lasts six months, when the quota may be held for an additional six months. That’s the OPEC description. Analysts, however, found the numbers a bit different. To begin, OPEC said in November that Russia would […]