Some OPEC delegates question if supply cut deal enough (Reuters)

Alex Lawler / Reuters

London.- Two weeks after an OPEC-led deal to extend oil output cuts until March, some OPEC delegates are questioning whether the agreement will be enough to reduce a glut in supplies and lift prices.

(Photo: Reuters)

Prices have fallen more than 10 percent to below $50 a barrel since the Organization of the Petroleum Exporting Countries and allies agreed on May 25 to prolong a deal to cut about 1.8 million barrels per day (bpd) until the end of March. The deal was initially due to run during the first half of 2017.

Even a political dispute between Gulf states, the source for most of OPEC's crude, has failed to drive prices higher.

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