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这是 Economist Espresso 栏目的第65篇精选文章：
Catching fire: oil prices
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Catching fire: oil prices
Energy ministers from OPEC and non-OPEC countries meet in Jeddah today to discuss a pact led by Saudi Arabia and Russia that has helped push crude prices to their highest level since 2014.
They will pat themselves on the back for over-complying with voluntary production cuts and almost reaching their target of stabilising global oil inventories at a five-year average. Prices may rise higher if they discuss extending the pact, perhaps even making it a more permanent fixture.
A surprise drop in American crude stocks this week has heightened bullishness, as has talk that the Saudis want oil prices of $80-100 a barrel.
But they should beware the unpredictability of geopolitics. The possibility that next month the Trump administration will impose new sanctions on Iran could set an excessively tight oil market on fire. In that case, those chinwagging in Jeddah will need a mechanism to increase production, not just cut it.
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