Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

OPEC'.s ministers will meet in Vienna on December 5 and the wider OPEC+ group will meet on December 6.

The IPO will be priced on Dec. 5. the same day OPEC meets in Vienna. The OPEC+ grouping holds talks on Dec. 6.

OPEC+ oil exporters have coordinated output for three years to balance the market and support prices.

Any expectations that OPEC and its partners will make deeper cuts to oil production have all but evaporated.

OPEC’s own outlook reflected a surplus of around 70.000 barrels per day (bpd) next year.

Oil production in the US has continued to expand and now stands at a record level of 12.9 million barrels a day.

The Russians have a grievance about the pact that they are likely to take up with their OPEC allies.

There has been speculation that Russia may be unhappy with the production agreement. in part because its energy companies oppose it.

The key mathematics of US shale oil growth have become more challenging. partly because of the rapid growth achieved in 2018.

The Organization of the Petroleum Exporting Countries will meet on Dec. 5 and is expected to extend output cuts to the end of 2020.