Opec and its non-Opec partners have put in place a landmark charter that pro- vides a permanent framework for long-term co-operation on oil production. The charter, agreed on 2 July in Vienna, will reshape the alliance into a for- midable force in the oil markets, Opec sources say. The Charter of Co-operation between Oil Producing Countries efectively “transforms the ad-hoc coalition of producers into a formal organisation to provide long-term stability to oil mar- kets”, a Saudi Opec delegate tells Argus.
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