OPEC's 17 April meeting with several non-OPEC producers is unlikely to lead to a clear cut outcome. Even if an output freeze is announced, we do not expect a genuine one to evolve during the remainder of 2016. Iran has declared it will not consider a freeze until it has returned to pre-sanction levels which isn't likely until 2017. With Iran ramping up output this year, Saudi Arabia has said it does not want to accept a freeze on its own production unless all OPEC members, such as Iran, do so.
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Insight | Apr 2016
OPEC's 17 April meeting unlikely to deliver real results
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