Opec-Plus

Opec-Plus Not Panicking Over Price Drop

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
Oil,Pumps,Drilling,Stocks,Financing,Trading,Increase,Decrease
ImageFlow/Shutterstock
  • Opec-plus is not racing to cut production following the drop in oil prices linked to the collapse of several banks in the US and Europe.
  • The producer alliance is taking a wait-and-see approach, judging that market fundamentals are not behind the price drop.
  • Russia's extension of its 500,000 b/d voluntary cuts until June is helping Opec-plus policymakers.

The Issue

Topics:
Opec/Opec-Plus, Oil Prices, Opec-Plus Supply , Oil Demand
Wanda Ad #2 (article footer)
#
Victory in landmark elections means Erdogan's era of political hegemony will extend into a third decade, with major implications for both Turks and global geopolitics.
Thu, Jun 1, 2023
The US president met with cabinet members Tuesday to hash out priorities on clean energy and infrastructure over the next three months.
Tue, Jun 6, 2023
Rising non-Opec supply will help ease the sting of prolonged production cuts and Saudi Arabia's July slash.
Tue, Jun 6, 2023