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

The United States was a net oil exporter for the first time in decades in September.

The biggest reduction is expected to be in U.S. shale output.

The consumer price index in China. the main indicator for inflation. increased 4.5% in November.

The budget deficit will widen to 6.4% in 2020 from 4.7% in 2019 as the government earns less from oil.

The largest and most significant single driver for all financial asset classes for next week will be the outcome of US-China trade negotiations.

Top oil producers agreed at last week’s meeting in Vienna to extend cutbacks to 1.7 million barrels a day.

At the Vienna meeting. OPEC+ agreed to reduce its output target by 500.000 barrels a day in the first quarter.

Asia'.s fourth biggest oil consumer imported 112.55 million barrels from the North American producer over January-October.

Saudi Arabia will continue a voluntary reduction of 400.000 barrels a day below its official target.

The key uncertainty facing the oil market now is OPEC+ supply from April.