Insight
Energy Pulse: OPEC’s surprise production cut
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Report summary
In the run-up to this week’s ministerial meetings of OPEC and the OPEC+ group in Vienna, it seemed most likely that they would decide simply to extend their existing agreement to restrict their output by 1.2 million barrels a day. In the event, they did quite a bit more than that, agreeing an additional 500,000 b/d cut in pursuit of their objective of “a stable and balanced oil market”. They also gave themselves the option of making another change next March. In other news this week: US oil production growth is slowing sharply, the COP 25 climate talks began in Madrid, Repsol set an ambitious goal for cutting emissions, and the greatest disaster caused by Britain's coal industry is depicted in the TV show ‘The Crown’.
Table of contents
- Saudi Aramco prices
- The great shale slowdown
- Climate talks in Madrid
- Repsol raises the bar for emissions cuts
- In brief
- Smart reads:
- Quote of the week
- Chart of the week
- Coming next
Tables and charts
This report includes 2 images and tables including:
- Annual changes in US crude production
- For upstream companies, LNG is one of the most emissions intensive resource themes
What's included
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