Related Articles
Opec+ will raise its overall production by just 400,000bl/d for December
Forward article link
Share PDF with colleagues

Opec+ sticks to its guns

The cartel opts not to spring any surprise by swifter loosening of the supply shackles

Opec+ opted on Wednesday to continue to adhere to its July agreement and raise its overall production by just 400,000bl/d for December. Its decision was largely expected, although there had been speculation that pressure from large consumers such as the US could have persuaded the producer group to inject a large addition of barrels into the market. “This will be seen as disappointing by the US, which is asking for an extra increase closer to 600,000bl/d,” says Ann-Louise Hittle, vice-president, macro oils, at consultancy Wood Mackenzie. “But as long as Opec+ actually boosts its output by 400,000bl/d, the US has indicated it will accept the outcome.” The consultancy believes that Opec+ do

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
US renewables sector faces near-term challenges
26 January 2022
Supply-chain issues and rising costs present short-term difficulties for sector poised for rapid growth
INOC sets the stage for oil uptick
26 January 2022
Control for Iraq’s new NOC of one of the country’s biggest oil assets may just be a first step in Baghdad’s strategy
TotalEnergies quits Myanmar
25 January 2022
The French major is transferring its stake in the Yadana gas field to its partners
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video