Insight
OPEC+ solves the riddle of the oil market
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
After the OPEC+ 4 June announcement, Brent prices initially rose that evening. However, the increase was short lived due to persistent market concerns about the risk of falling into recession. Setting aside the fears of possible recession, the outlook for oil demand and supply remains broadly supportive for Brent prices in the second half of 2023. Read our insight to find out: • The tricky issues OPEC+ faces • Implications for Asian refiners • Impact of OPEC+ decision in H2 2023 • What does it mean for China?
Table of contents
- Key decisions of the OPEC+ meeting
- Tight market outlook in H2 2023
- OPEC+ faced tricky issues at its meeting
- China demand recovery at risk?
- Upside risk to Russia supply
- Key risk to our oil price outlook: Refining behaviour
Tables and charts
This report includes the following images and tables:
-
Global implied stock change
What's included
This report contains:
Other reports you may be interested in
Insight
OPEC+ production cuts tracker
Includes latest agreement to continue unwinding of production cuts in September 2026
$1,350
Asset Report
Cardenas-Mora
The Cardenas and Mora fields are located about 55 km north of Villahermosa. The fields were offered as JV opportunities with Pemex in ...
$3,720
Insight
Consolidation and competition: the future of the FPSO contractor market
FPSO market consolidation: SBM Offshore and Modec extend their lead as mid-tier contractors face strategic pressure to adapt.
$1,350
