Oil prices likely to reach USD 55/barrel in Q4, says Nordea Bank
Oct 12, 2016 07:01 am UTC| Commentary
At the end of September 2016, OPEC shocked the market when the cartel agreed for the first time in eight years regarding a coordinated production cut. This is the beginning of a new era. Nordea Bank noted that OPEC is...
Oil in Global Economy Series: Worries remain despite an ambitious deal
Sep 30, 2016 06:35 am UTC| Commentary
First and foremost, we will have to hand some credit to the OPEC members, who could set aside their differences and agree to some kind of an arrangement to pop up the oil price. OPEC producers agreed that that would put a...
Investors skeptical if OPEC agreement would suffice to rebalance a heavily over-supplied oil market
Sep 29, 2016 14:17 pm UTC| Commentary
Saudi Arabia and Iran patch up political differences and OPEC surprised the market with an agreement to reduce the blocs combined output to 32.5mn barrels per day, a reduction of about 750,000 barrels per day. It was an...
Oil in global Economy Series: What production quotas and 13 percent for Iran means?
Sep 29, 2016 11:02 am UTC| Commentary
The OPEC members after a long four-hour meeting in Algeria have agreed to a production quota between 32.5 million barrel and 33 million barrels per day. The final agreement would be reached at OPEC official November...
Oil in Global Economy Series: Don’t get too overjoyed by the freeze deal
Sep 29, 2016 10:31 am UTC| Commentary
Member countries of Organization of Petroleum Exporting Countries (OPEC) were able to set aside differences and agree to a deal that would reinforce the quota system ceiling. After several meetings since Monday and a...
Oil in Global Economy Series: Is production freeze deal a setback for US foreign policy?
Sep 29, 2016 07:44 am UTC| Commentary
Lower oil prices may have been a major concern for the oil companies, shale oil producers in the United States, and the US Federal Reserve as a drag to the inflation, but it has been a geopolitical advantage for the United...
Key takeaways from the oil meeting in Algiers
Sep 28, 2016 11:38 am UTC| Commentary Economy
Today is the final day of the International Energy Agencys (IEA) biennial summit in Algeria, where OPEC members are meeting outside their regular closed-door ones to discuss the future of the oil market. It is now clear...
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