Found: one price floor

RBC Capital Markets is sceptical at the best of times that anything tangible ever comes out of an OPEC agreement, but believes Russia and Saudi Arabia's moves toward freezing production will shore up sentiment, put a floor into the market and prove the predictions of the cartel's demise are premature after all.

The world's top two crude oil producers' announcement on the sidelines of the G20 summit in China of the creation a joint working group to explore avenues for stabilising the oil market was short on


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