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OPEC's 17 April meeting unlikely to deliver real results

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13 April 2016

OPEC's 17 April meeting unlikely to deliver real results

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. 

Table of contents

  • Run up to the 17 April Doha meeting
  • Impact of a freeze limited by reports of high production in January
  • The potential oil price impact

Tables and charts

This report includes 2 images and tables including:

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

What's included

This report contains:

  • Document

    OPEC's 17 April meeting unlikely to deliver real results

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