Smith, Eugene R
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There is bound to be a bitter quarrel at the next OPEC meeting, mainly between the cash-rich and cash-strapped members, i.e. between those who can sit this out and those who don’t have the luxury of time. The Saudi’s havetold OPEC members not to panic, explaining that very low o...
Still, prices have risen this week, with Brent trading around $89 a barrel on Thursday, partly in anticipation of OPEC+ decreasing production. The alliance, led by Saudi Arabia and Russia, showed its readiness to stabilize markets with a symbolic cut at its last meeting. Saudi Energy Minister...
Another potential supply response could come from the Organization of the Petroleum Exporting Countries and their allies (OPEC+). The alliance has the capacity to quickly release 1.5 mbd of supply but so far, there is no indication that the group will alter its current plan to increase output ...
December 4 – OPEC meeting December 6 – Australia GDP December 7 – Canada – Bank of Canada interest rate decision December 13 and 14 – US Federal Reserve and the US CPI meeting December 13 – UK – Financial Stability Report December 14 – New Zealand GDP December 14 – Austra...
When these questions are not being addressed, but become reality, OPEC’s upcoming meeting will be put in another light. Without a real spare production capacity, or with a much lower capacity, the current discussion is null and void. Additional oil on the market will be constrained, leavin...
Blinken is also scheduled to co-host a June 8 meeting with Saudi Foreign Minister Faisal bin Farhan on combating the Islamic State militant group, the statement said. Riyadh has been a partner in Washington's efforts to broker a ceasefire in Sudan, with talks taking place in Jeddah, ...
CICC released a research report saying that the OPEC + meeting will decide to continue to maintain the production increase plan formulated in early April. This is the total daily production increase of 841000 barrels in July after the production increase in May and June. However, the bank ...
Based the first four trading days of the week, Abad said estimates showed a potential price hike of not more than P0.50 per liter for gasoline and more or less P1 per liter jump in the prices of diesel and kerosene. Abad said global prices continue to rise as a result of OPEC+ reduc...