Disagreement and competing interests among member countries at recent OPEC meetings have introduced concerns on whether Saudi Arabia can continue to rally a market management strategy over the coming months. With OPEC+ market share reaching 53% of global output at the end of 2023 vs 63% ten years ago, questions remain on how to react to growing production outside of OPEC and its partners. A Quick Look Back Through 2011, OPEC production was largely out of compliance, but supportive oil prices provided less incentive for OPEC’s members to remain within their quotas. The group controlled over 60% of the market at the ... (full story)