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OPEC delivers clever compromise and show of unity
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Report summary
On 22-23 June 2018, OPEC and its non-OPEC partners gathered in Vienna for a full bi-annual meeting. Faced with an uncertain supply outlook for at least two key OPEC members – Iran and Venezuela – and pressure from the US government to address high prices, both Saudi Arabia and Russia worked hard to deliver a clever agreement. It keeps Iran and others in the fold, despite their resistance to higher production, and promises more supply in H2 2018.
Table of contents
- Impact of the agreement
Tables and charts
This report includes 1 images and tables including:
- OPEC spare crude production capacity
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