The Most Important Part Of The OPEC Deal

15 Dec 2017   OPEC

The OPEC meeting in Vienna last month was, despite all the hype, always going to be a dull affair. The extension of the oil supply cuts had been all but decided before the members met, and only the length of the extension was subject to speculation. But in six months’ time, these members will meet again, and this time around there will undoubtedly be drama. Saudi Arabia’s Energy Minister Khalid al-Falih said in Vienna that discussing an exit strategy from the cut agreement was premature, adding that the exit would be gradual. Now, it’s beginning to look like his remark may have been a bit premature: other OPEC officials are already talking about it. In recent days, two OPEC oil ministers —UAE’s Suhail al Mazrouei and Kuwait’s Issam al-Marzouq—have commented on an exit strategy. Both have been guarded in their remarks, with Al Mazrouei saying simply that it was […]

Comments are closed.