The Organization of the Petroleum Exporting Countries agreed to curb production for the first time since 2008 on Wednesday, but just a day later, energy market analysts are questioning the meaning of the deal.
OPEC minted a preliminary plan to cut production to as little as 32.5 million barrels a day, from about 33.2 million barrels in August, sources told Reuters. But output quotas for each of the cartel's 14 members would be left undecided until its annual meeting Nov. 30.
A lack of concrete detail has left some questioning whether the agreement is any deal at all — and wondering what might potentially derail things between now and November.
"I think what this really is is an agreement to agree at some point two months from now, and there are big questions around the allocations. Is this a freeze or a cut? What's the real deal with Iran going to be?" energy analyst and Pulitzer Prize-winning author Dan Yergin told CNBC's "Squawk Box" on Thursday.