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OPEC's 17 April meeting unlikely to deliver real results

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Report summary

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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    OPEC's 17 April meeting unlikely to deliver real results

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  • Key increases in January 2016 vs annual average oil production in 2015
  • Year-on-year change in global supply and demand

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