Within the next couple of weeks OPEC is supposed to meet in Vienna alongside Russia and other countries that make up the expanded “OPEC+” group. But the ministers have yet to finalize the date of that get-together.

If they ever manage to settle on timings, they will need to confront an unpalatable reality.

Crude’s failure to sustain its start-of-year rally, despite myriad supply disruptions and threats that once would have had prices nudging $100 a barrel, has provided plenty of fodder for oil bears to argue that the market really has changed in the past half decade.

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