Google+ Followers

Thursday, 9 February 2017

COLUMN-OPEC supply surge has left oil market nursing a hangover: Kemp | Reuters

COLUMN-OPEC supply surge has left oil market nursing a hangover: Kemp | Reuters:

"OPEC members have reportedly achieved a high level of compliance with the production cuts announced in November but their efforts to ramp up output ahead of the accord have left the market with a nasty hangover from 2016. Compliance has been estimated at between 80 percent and 100 percent by the major reporting agencies, as deeper cuts by Saudi Arabia and some of its allies make up for poorer compliance by other members. OPEC delivered 82 percent of its promised cut of 1.17 million barrels per day in January according to Reuters, but as much as 98 percent according to Argus (http:/tmsnrt.rs/2k7eIIy)."



'via Blog this'