Algeria Joins Iran Venezuela in OPEC "Shaky Six" Oil Nations - Bloomberg:
Meet the exclusive group of oil producers that nobody wants to join.
Algeria’s deepening political crisis has made its future oil production extremely uncertain. So, ignominiously, it is now the latest OPEC member to have become so vulnerable that it forms part of the “Shaky Six” group of nations suffering involuntary output cuts or at risk of seeing their production fall.
This adds yet another complication for the OPEC+ oil ministers as they gather in Baku, Azerbaijan today and tomorrow to assess the effectiveness of their latest output deal and what they need to do in the coming months to rebalance the oil market. A drop in Algerian supply would add to the cuts already being implemented, but make it more difficult for the group to forecast when they might be able to ease restrictions.
No comments:
Post a Comment