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What to watch as OPEC meets

Saudi Arabian Crown Prince Mohammed bin Salman (on left) and Russian President Vladimir Putin talk.
Saudi Arabian Crown Prince Mohammed bin Salman (on left) and Russian President Vladimir Putin talk. Photo: Pool/Getty Images

The outcome of this week's OPEC meeting in Vienna is "pivotal" for the future of the Saudi-Russian alliance — and by extension the broader OPEC/non-OPEC group — says smart cartel-watcher Ellen Wald, the president of Transversal Consulting.

Crystal ball: Wald predicts the meeting will yield plans for a production boost in the 300,000 to 600,000 barrel per day range. But it's not clear whether that will come from a firm agreement or relaxed compliance among producers — notably the Saudis, Russia, UAE and some others — with spare capacity.