OPEC output cap: new alliances, fresh strategies

The chances of OPEC capping oil production in November remain low as some of its member countries have not agreed to freeze their output The chances of OPEC capping oil production in November remain low as some of its member countries have not agreed to freeze their output.
By Abhishek Kumar 3 October 2016 0 24423

Directional impact on forecast:
Bullish for oil prices in short term

OPEC’s members have reached an understanding to marginally reduce the cartel’s oil production from its current level, but the market is still not convinced they will cap their output.

OPEC’s so-called ‘extraordinary meeting’, which took place in Algeria in September, has set the scene for its next twice-yearly meeting, scheduled for November. However, the road to an agreement on a production cap will be a thorny one.

The meeting proposed an overall production target of...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Log me in

Not a subscriber?

Sign up for 7-day trial access to this and more premium content. It's free.

Sign up now