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Why OPEC Won't Flood The Oil Market

OilPrice.com Wednesday, 20 June 2018
The latest from Vienna is that Russia and Saudi Arabia are leaning towards the aggressive end of the suite of options under consideration, but as always, the negotiations remain fluid. Reuters said that Saudi Arabia and Russia could push a 1.5-million-barrel-per-day increase as a negotiating tactic in order to get the rest of the group to sign on to increases of around 500,000 to 700,000 bpd. In fact, the Wall Street Journal reported that Saudi Arabia was shopping a 500,000-bpd increase to fellow OPEC members this week. Some sort of increase seems…
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News video: OPEC Promises Oil Supply Boost Without Offering Concrete Numbers

▶ OPEC Promises Oil Supply Boost Without Offering Concrete Numbers 00:40

According to a report by Reuters, OPEC agreed with Russia and other oil-producing allies to raise output from July on Saturday, with Saudi Arabia promising a 'measurable' supply boost. Non-OPEC oil producers have reportedly agreed to participate in the pact without agreeing to any concrete numbers...

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Tweets about this

BurggrabenH

Alexander Stahel @OpenSquareCap So OiliciousG is really saying that OPEC, OPEC+ and the Saudis worked really hard for 2y to remove t… https://t.co/Bzjwh05lLl 1 day ago

fearoffreedom

Weird Identification US and OPEC flood oil market ahead of midterms — RT Business News https://t.co/rzNlE3FXMo 3 days ago

EricCMyers

Eric C. Myers RT @RT_com: Softened #oil market: Flood of new supply may have put a cap on oil prices in the near-term https://t.co/g8A0mgeOQ3 3 days ago

RT_com

RT Softened #oil market: Flood of new supply may have put a cap on oil prices in the near-term https://t.co/g8A0mgeOQ3 3 days ago

LoyaltyIsEarnt

JustMark If #OPEC have increased production, why are oil prices still so high? US and OPEC flood oil market ahead of midterms https://t.co/KCCKxdVrPt 3 days ago

HOPE4THE_FUTURE

BIG AL U.S. And OPEC Flood Oil Market Ahead Of Midterms | https://t.co/vb6CNI7TfU https://t.co/i6mGruHKAk #oilprice 3 days ago

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Alex RT @RT_com: #US & #OPEC softened the #oil market ahead of midterms https://t.co/g8A0mfXdYv 3 days ago

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