Opec splits prevent deal with other producers to curb supply

No agreement: Barkindo says price recovery has already taken far too long and producers can’t risk delaying it further. – AFP

LONDON: The Organisation of Petroleum Exporting Countries’ (Opec) internal disagreements over how to implement oil-supply cuts agreed last month prevented a deal to secure the cooperation of other major suppliers.

More than 18 hours of talks over two days in Vienna yielded little more than a promise that the world’s largest oil producers would keep on talking. Discussions will continue in late November, just days before Opec is supposed to finalise the accord that lifted oil prices to one-year highs.