HeatOil/EUR

The Organization of the Petroleum Exporting Countries (OPEC) today marks the sixth anniversary of the adoption of the landmark ‘Algiers Accord’ on 28 September 2016 in Algiers, Algeria. Six years ago, the OPEC Conference held its 170th (Extraordinary) Meeting in the Algerian capital to discuss oil market developments and deliberate ways to address the ...

There is increasing noise that OPEC+ will be looking to agree on an oil production cut at their meeting next week, given the broader pressure that we have seen on oil prices. However, since reports that Russia had proposed a 1MMbbls/d supply cut, there have been no suggestions from other members on the potential size of any cut. In August, OPEC+ production ...