Lack of progress suggests declining probability of Nov. deal Weakening fundamentals warrant lower prices without agreement An OPEC deal to cut oil output at a meeting this month is looking increasingly unlikely, with failure warranting prices in the low-$40s, according to Goldman Sachs Group Inc. “The lack of progress on implementing production quotas and the growing discord between OPEC producers suggests a declining probability of reaching a deal on November 30,” Goldman analysts including Damien Courvalin wrote in a note dated Oct. 31. Obstacles to a supply agreement remain formidable, Greg Sharenow, a Pimco portfolio manager, said in an e-mailed note on Tuesday. The Organization of Petroleum Exporting Countries is due to meet in Vienna to implement the first supply cuts in eight years and get other producers from outside of the group to join, notably Russia. Brent crude extended losses below $50 a barrel on Monday after weekend […]