As investors move on from concerns around oil supply constraints following the recent Saudi oil attacks, oil market commentators are forecasting a large supply-demand imbalance in the other direction in 2020 with supply growth from the US, Brazil and Norway not expected to be absorbed by new demand. Estimates of… Read the article
Yesterday’s announcement by OPEC (The Organisation of Petroleum Exporting Countries) on cutting oil supply marks a significant change in strategy and effectively provides a back-stop for the oil & gas industry. OPEC said that it will reduce oil supply by 1.2 million barrels per day (mb/d) with a… Read the article
As OPEC (Organisation of Petroleum Exporting Countries) meets on 30 November to decide on production cuts, much uncertainty remains regarding OPEC’s collective appetite to reduce production, how the reduction will be apportioned and the likely timing of the mooted cuts.
We should not take OPEC’s actions lightly though as the… Read the article