But has the producers' group got the internal discipline to scale back output and really push up prices? And would that not just open the door to new production from Texas and North Dakota?
The market has reacted cautiously but positively, with Brent blend back up above $50 per barrel.
There is still scepticism over Opec’s ability to achieve the goal it has set to be ratified at its meeting next month — to cut production from over 33.5
