Would an OPEC production cut make a difference?

The prospect of the first OPEC production cut since 2009 has sent oil prices back above $50 per barrel, although they have slipped a bit recently as the potential deal shows signs of unravelling. Indeed, previous reductions in OPEC’s output have only had limited success in boosting oil prices. This Energy Watch looks at what impact the proposed OPEC production cut would have on the market – if it were to happen.