Published in Investor's Business Daily
But a freeze, no matter how many countries join, won’t have a real, fundamental impact on prices, said Omar al-Ubaydli, an affiliated senior research fellow at George Mason University’s Mercatus Center.
“Russia is basically producing at capacity, so a freeze doesn’t really mean anything,” he told IBD. “It just means they aren’t going to invest in increasing their capacity. That’s already something that’s financially unwise to do. So it’s all show and politics and grandstanding.”
While there might be a little spike or dip after the Doha meeting, it won’t set the stage for a quota system in the future, Al-Ubaydli said.
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