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OPEC's Nov 30 meeting: Letting go of market share strategy

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Report summary

The year long effort from OPEC to agree on production restraint has culminated in an agreement to cut its output by 1.2 million b/d effective 1 Jan 2017 for 6 months. Saudi Arabia threw its support into this agreement which marks a major change from OPEC's policy since November 2014 meeting.

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    OPEC's Nov 30 meeting: Letting go of market share strategy

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This report includes 2 images and tables including:

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  • Implied stock build/draw: potential impact of OPEC cut if fully implemented

Tables

  • OPEC production agreement

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