Will Oil producers talk about deepening production cut?

Malcolm Graham-Wood Independent Analyst

With the Opec and Non-Opec meetings due this week, culminating on Thursday with what should be a straightforward discussion about whether to extend by 6 or 9 months the only change appears to be around deepening the cuts. I suspect that anything of that order will be discussed but probably kept back for a rainy day, it may be that should there be less than hoped for draw of stocks a bigger cut will be needed. Elsewhere the rig count on Friday showed a rise of 16 units overall, oil was up 8 at 720. Finally I’m sure that you dont need reminding that next Monday is Memorial Day in the US which signals the start of the driving season, let battle commence.

Author

Malcolm Graham-Wood

Independent Analyst

Malcolm Graham-Wood started his City career as a trainee analyst at Wood Mackenzie and then cut a swathe through a number of broking houses, all the time building up his knowledge and love of the upstream oil and gas industry incl

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