Quota, unquota

摘要

Saudi Arabia has been praised for its perceived victory over Opec hawks at the group’s meeting on 14 December in Vienna. More surprisingly, Iran’s role in the Vienna deal was lauded by senior delegates. Opec’s two largest producers — old foes in many ways but great friends for now — fashioned a pragmatic output agreement that is even more flexible than the Oran deal of December 2008. That deal was forged by plunging demand during the Great Recession. This one is tempered by massive economic uncertainty.