OPEC preparing compromise agreement

Baku. 24 November. REPORT.AZ/ OPEC is considering the draft agreement that won’t lead to price spikes and throttling back the flow of its oil to rebalance oversupplied global markets, Report informs citing The Wall Street Journal.

According to the newspaper, OPEC may declare the return to target output, set in 2016.

The OPEC representative announced that the deal would be a compromise between pleasing the US with policies that won't lead to price spikes and will prevent confrontation with Russia that does not plan new cuts.

The publication notes that Riyadh was ready to cut output to 31.5 million bpd but fears conflict with Washington.