Crude Market Firm Ahead of Jan 12-13 Informal OPEC Meet

On Nov 30th, during OPEC’s 171st meeting in Vienna, an agreement was reached to reduce output by 1.20 Mb/D to a ceiling of 32.5, for monthly oil production out of the cartel. Later, at a joint Non-OPEC meeting, Russia has pledged to cut supply by 0.56 Mb/D, in-line with the OPEC’s requirements for coordinated efforts … Read moreCrude Market Firm Ahead of Jan 12-13 Informal OPEC Meet

Research Focal Points: All Eyes on Dec 4th OPEC Meeting

The 12 national OPEC ministers meet this December 4th in Vienna for the 168th (Ordinary) OPEC conference and it is likely to be an unpleasant meeting as tensions between member nations and Saudi Arabia mount on over-supply concerns. Indonesia’s OPEC membership will likely become formalized at the meeting. Analysts widely expect the target to remain … Read moreResearch Focal Points: All Eyes on Dec 4th OPEC Meeting

RESEARCH FOCAL POINTS: HOPES FOR OPEC DEAL DWINDLE ON PRE-MEETING COMMUNICATIONS

The Organization of the Petroleum Exporting Countries (OPEC) is scheduled to meet on Nov 30th to discuss the deal set last time around in Algiers. The prospective deal, as discussed at the 170th OPEC (Extraordinary) meeting, was for an OPEC-14 production target of 32.5-33.0 Mb/d in order to, “…accelerate the ongoing drawdown of the stock … Read moreRESEARCH FOCAL POINTS: HOPES FOR OPEC DEAL DWINDLE ON PRE-MEETING COMMUNICATIONS

Research Focal Points: Crude Fades as Rumor-mill Goes Dark and Prospects for Output Ramp Escalates

Last week Crude Oil has rebounded to $34.40 from the $27.56 lows set in late January on the back of rumors of a 5% cut in oil production to be discussed at an emergency OPEC meeting that was to take place in March or as early as February. The 25% pop is likely to be … Read moreResearch Focal Points: Crude Fades as Rumor-mill Goes Dark and Prospects for Output Ramp Escalates

Research Focal Points: All Eyes on Dec 4th OPEC Meeting

The 12 national OPEC ministers meet this December 4th in Vienna for the 168th (Ordinary) OPEC conference and it is likely to be an unpleasant meeting as tensions between member nations and Saudi Arabia mount on over-supply concerns. Indonesia’s OPEC membership will likely become formalized at the meeting. Analysts widely expect the target to remain … Read moreResearch Focal Points: All Eyes on Dec 4th OPEC Meeting