Top OPEC producers and their main allies have given a raft of conflicting messages about their next oil policy moves, making it particularly difficult to predict the outcome of the next OPEC+ meeting in early June. Remarks by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman, the de-fac...
What would prompt us to change our price and production forecasts following OPEC's June meeting would be: either a highly acrimonious meeting and dissolution of the OPEC/NonOPEC alliance, or, an agreement to raise production signifcantly, close to the upper band of proposals, circa 1.5mn b/...
At the last OPEC+ ministerial meeting in June, the group left its production cuts in place to the end of 2024. Saudi Arabia pledged to voluntarily reduce its oil output by an additional 1 million barrels a day starting in July and Russia said it reduce its oil exports ...
OPEC expected to extend existing quotas at June meeting despite upcoming Iraqi sale. (Organization of Petroleum Exporting Countries)Mackey, PegElass, Jareer
Russia and Saudi Arabia agreed to closely coordinate on the OPEC+ output cuts deal, two weeks ahead of a crucial meeting of the group. The talks between President Vladimir Putin and Saudi Crown Prince Mohammed Bin Salman come as Russia was said to be determined to start easing oil-output cut...
People pass near a petrol station at the Central Business District in Nairobi, capital of Kenya, on June 29, 2023. (Photo by John Okoyo/Xinhua) The meeting was co-chaired by Al Ghais and Zhang Jianhua, head of China's National Energy Administration. ...
Forbesprovidesthese details: Analysts thought the 12-member group would boost production in an effort to cool off oil prices and take some pressure off the world economy…. Instead of raising production the Organization of Petroleum Exporting Countries ended a contentious meeting in Vienna without cha...
OPEC+ negotiations over production quotas have often been difficult in the past, most recently at their June meeting. WHAT IS AGREED ALREADY? OPEC+ after long negotiations in June extended oil output cuts of 3.66 million barrels per day (bpd), or about 5% of daily global demand, until the ...
Even so, O’Donnell said “nothing of substance will change” with the appointment of the new oil minister. “The only ingredient of immediate interest to the market [in regard] to the June meeting is the apparently greater proclivity of Salman to take on the Iranians.” ...
xes are likely to play a role in the coming years.A global minimum corporate tax rate as agreed upon by the G7 economies in June 2022 points in the direction of global tax hikes.The G7 agreed to a 15%minimum corporate tax rate in June,which was then endorsed by G20 finance ...