SZO - Saudi Arabia's Quagmire

As the December OPEC meeting approaches, it's becoming increasingly certain that there's trouble ahead.

According to Bloomberg:

"The OPEC+ group of oil producers will need to make deeper output cuts when they meet in December. That’s the inescapable conclusion from the latest round of monthly reports published by the three big oil-forecasting agencies.”

Several of the larger members of OPEC+ have not been abiding to their quotas, including kingpin Russia, Iraq and Nigeria. And so the Saudis want them to first come into compliance before discussing deeper cuts.

Fortunately for OPEC, sanctions on Iran