The amount of oil hitting world markets will continue to grow relentlessly if OPEC fails to agree production cuts, the International Energy Agency has warned.
And making the proposed cuts a reality will be very difficult.
“We can see the scale of the task ahead,” said the Paris-based agency.
OPEC agreed in principle to cut oil production at a meeting in September, and the group’s experts are working on a deal that would allocate production targets to individual members ahead of its next gathering on Nov. 30.
