A draft agenda for next week’s meeting of OPEC’s energy ministers suggests the decision to extend the oil production cuts until the end of 2018 is all but made, at least as far as OPEC members are concerned. Reuters reports that the agenda calls for just a three-hour meeting, which by OPEC standards is very short. If the meeting is to be so short, then all participants must already be on board with the extension, Reuters said. Indeed, both the secretary-general of OPEC, Mohammed Barkindo, and Saudi Arabia’s Energy Minister Khalid al-Falih, have said in recent weeks that they are seeking to reach consensus among all OPEC members on the extension prior to the November 30 meeting. However, this is only the first meeting due November 30. After that one, the OPEC ministers will meet with their non-OPEC partners. The biggest among these partners, Russia, has hinted that it […]