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Qatar quits OPEC

03 diciembre 2018

On 3 December 2018, Qatar announced it will withdraw from OPEC on 1 January 2019, putting an end to its 57-year membership of the producers’ cartel. Qatar, which said it intends to focus on its gas production, made the announcement ahead of the 6 December OPEC meeting.

News Release

OPEC+ maintains production plan

27 abril 2021

OPEC+ is, as expected, holding firm to its decision to increase supply, gradually and carefully, over the coming months.

Featured

OPEC's surprise production cut

06 diciembre 2019

The OPEC+ group's flexible approach to managing the market is good for prices in the short term, but creates uncertainty beyond 2020. Get the latest analysis of today's OPEC announcement from Ed Crooks with Ann-Louise Hittle, head of macro oils.

Editorial

OPEC extends production cuts through 2018

30 noviembre 2017

A 9-month extension to the current OPEC agreement will help sustain prices in a global market that's still uneasy going into 2018.

News Release

OPEC stays the course with production deal

01 diciembre 2017

OPEC and non-OPEC producers agree to extend production curbs through 2018

News Release

OPEC+ set to make its choice

05 diciembre 2019

OPEC+ gathers today and tomorrow to decide if the group should roll over its production restraint agreement or consider deeper cuts. The current agreement to reduce output by 1.2 million b/d runs to end March 2020. Ann-Louise Hittle, vice president, Macro Oils, said: “The idea of deeper cuts has been broached, but we consider that less likely to reach full agreement than a rollover of the standing agreement. The need for production restraint is clear. Slower US production growth is not enough to offset the ongoing imbalance between global supply and demand.”

News Release

OPEC producers key to world supply through to 2040

16 julio 2018

Global natural resources consultancy Wood Mackenzie sees OPEC maintaining its role as a key oil supplier through to 2040, although output from non-OPEC producers will help ensure adequate supply in the years to 2030.

Comment

OPEC+ agrees to increase output after tense negotiations

07 diciembre 2020

Tense negotiations and rumours of a rift between Saudi Arabia and UAE ended with a compromise deal for OPEC+ on 3 December 2020. Despite concerns on oversupply for Q1 2021, the group agreed to increase output by 500,000 b/d in January. Production restraint is set at minus 7.2 million b/d instead of the Q4 2020 level of minus 7.7 million b/d.

Comment

OPEC+ surprises market as it extends output curbs

04 marzo 2021

OPEC+ took the market by surprise when it decided to roll over its quota, saying that rather than anticipate a demand recovery, the group would wait to see it actually recover. The market was expecting a substantial increase in production because a tightening in the supply and demand balance is already evident.

News Release

OPEC+ set for rollover but risk clouds supply outlook

30 junio 2019

As OPEC and OPEC+ meet in Vienna, the outlook for the market is mixed, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie said. “Geopolitical risk means the supply outlook is tightening, offsetting the moderate weakening in oil demand growth thus far this year,” she said.

The Edge

For a few dollars more – OPEC’s shifting stance

13 octubre 2016

OPEC’s plan for production cuts signals a desire to support prices, even if the battle to wrest control of the market seems barely half won.

Comment

Deeper OPEC+ supply cuts sends supportive signal to markets

06 diciembre 2019

After a marathon meeting, running late into the night of 5 December, the OPEC+ group has agreed to continue its current production restraint of 1.2 million barrels per day (b/d), and will add a further 0.5 million b/d of supply cuts through to March 2020.

News Release

OPEC+ ‘no deal’ a blow to the market

06 marzo 2020

The OPEC+ meeting broke up without a deal, what does it mean for the markets?

News Release

OPEC+ aims for balance as it rolls over output curbs

02 julio 2019

Speaking as the OPEC and OPEC+ meetings ended in Vienna today, Ann-Louise Hittle, vice president, Macro Oils, at global natural resources consultancy Wood Mackenzie, said: “The agreement to roll over production restraint was a foregone conclusion after the green light from Russia’s president, Vladimir Putin, at the G20 meeting for continued production restraint."

News Release

OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

05 marzo 2020

The OPEC oil producers' group and its non-OPEC allies are poised to deepen its production cuts by 1.5 million barrels per day as the coronavirus (Covid-19) outbreak eats into global oil demand.

The Edge

OPEC underpins oil markets into 2018 - green light for tight oil growth

29 mayo 2017

The firmer oil price we expect can only embolden the already resurgent US tight oil industry which is on course to displace the 1 million b/d OPEC has cut within the year. Three main aspects of the decision stand out.

Comment

Collapsing demand sets the terms in the OPEC+ battle for market share

09 abril 2020

Since OPEC+’s failure to agree on production restraint on 5-6 March, the implications of the Covid-19 pandemic have become far clearer, sparking a crisis in the oil market as prices fell and supply ramped up. The problem for these producers is the scale of the fall in oil demand, especially during April and forecast for Q2 2020. No matter the size of the varying forecasts, they all point to a challenging market that puts pressure on storage space and prices.

Comment

Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

06 junio 2020

OPEC+ today (6 June 2020) agreed a one-month extension of the 9.7 million barrels per day (b/d) production cut. The extension will tighten the market further and could see Brent prices rise from the current $40/bbl toward $45-to-$50/bbl.

Comment

All eyes on OPEC meeting as group mulls easing of production restraint

01 diciembre 2020

OPEC held its scheduled bi-annual meeting virtually on 30 November 2020. Though the group was unable to reach an agreement at that meeting, up for discussion is whether the production restraint would be eased starting 1 January 2021.

The Edge

Oil markets - OPEC restraint needs to stretch into 2018. A supply glut lurks just below the surface.

22 marzo 2017

Why have oil prices come under renewed downward pressure? Our Macro Oils team, led by Ed Rawle, sees three main reasons.

Opinion

Oil and refining market implications of Israel’s strike on Iran

16 junio 2025

Explore the ripple effects of Israel's attack on Iran's nuclear program and how it could reshape global oil markets and geopolitical dynamics in the Middle East

Webinar

Webinar | Middle East and North Africa Upstream

20 febrero 2024

2023 was a year in which the Middle East and North Africa (MENA) region consolidated 2022’s gains. 2024 heralds much uncertainty: an expansion of OPEC quotas will impact short term oil production across the region while capacity expansion continues apace.

The Edge

How the oil market would deal with the return of Iranian exports

16 abril 2021

The return of Iranian exports to the oil market in 2021 was a clear risk. If sanctions are lifted, how much oil could Iran produce and how quickly? What wiggle room would OPEC+ have to accommodate Iran's exports? What would be the effect on the oil price?

Opinion

5 things you need to know about MENA upstream oil and gas

21 enero 2019

What's in store for the upstream oil and gas industry in the Middle East and North Africa? Find out what projects and regions our MENA upstream will be watching closely in 2019.

News Release

Oil price rout: which supply is most at risk of shut-in?

27 marzo 2020

The coronavirus pandemic is reducing oil demand. The OPEC+ production restraint agreement fell apart on 6 March and Saudi Arabia is rapidly increasing supply. The result: Brent crude has plunged to less than US$30/bbl. This will have a significant impact on currently producing fields and future supply. How low can the price go before different sources of production become uneconomic? Where are production shut-ins most likely? Can governments influence the result?

Opinion

Middle East and North Africa upstream: 5 things to look for in 2024

10 enero 2024

With COP28 recently completed in the UAE, there is elevated interest in progressing diverse clean energy strategies in the MENA region.

The Edge

Why Brent isn’t reacting to escalating geopolitical risk

08 febrero 2024

Today’s geopolitical temperature is close to boiling point. So why haven’t oil prices leapt in response, as we’ve seen in the past?

The Edge

How the big Gulf producers are investing in 2019

15 enero 2019

What are the upstream investment strategies of big Gulf producers? And how much are they spending? Find out here. With analysis from Simon Flowers and Jessica Brewer.

News Release

Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

16 abril 2020

Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia.

Opinion

Global upstream update: diverging development strategies in Latin America, investment at risk in Africa, and Kazakhstan supply tensions explained

17 junio 2025

Our Global Upstream Update presents timely analysis of key industry topics from our regional experts situated around the world.

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Your search for opec has returned 49 results

Qatar quits OPEC

OPEC+ maintains production plan

OPEC's surprise production cut

OPEC extends production cuts through 2018

OPEC stays the course with production deal

OPEC+ set to make its choice

OPEC producers key to world supply through to 2040

OPEC+ agrees to increase output after tense negotiations

OPEC+ surprises market as it extends output curbs

OPEC+ set for rollover but risk clouds supply outlook

For a few dollars more – OPEC’s shifting stance

Deeper OPEC+ supply cuts sends supportive signal to markets

OPEC+ ‘no deal’ a blow to the market

OPEC+ aims for balance as it rolls over output curbs

OPEC agrees 1.5m b/d output cut as coronavirus eats into global demand

OPEC underpins oil markets into 2018 - green light for tight oil growth

Collapsing demand sets the terms in the OPEC+ battle for market share

Market set to tighten as OPEC+ agrees to extend 9.7 million b/d output cut

All eyes on OPEC meeting as group mulls easing of production restraint

Oil markets - OPEC restraint needs to stretch into 2018. A supply glut lurks just below the surface.

Oil and refining market implications of Israel’s strike on Iran

Webinar | Middle East and North Africa Upstream

How the oil market would deal with the return of Iranian exports

5 things you need to know about MENA upstream oil and gas

Oil price rout: which supply is most at risk of shut-in?

Middle East and North Africa upstream: 5 things to look for in 2024

Why Brent isn’t reacting to escalating geopolitical risk

How the big Gulf producers are investing in 2019

Saudi Arabia’s May 2020 OSPs for crude exports bode well for Asian refiners

Global upstream update: diverging development strategies in Latin America, investment at risk in Africa, and Kazakhstan supply tensions explained