StanChart: OPEC+ Is About To Become Much More Transparent

A week ago, the 39th OPEC and non-OPEC Ministerial Meeting was held via videoconference, chaired by Prince Abdulaziz bin Salman Al-Saud, Saudi Arabia’s Minister of Energy. According to a press release, the group pledged to “develop a mechanism to assess the maximum sustainable production capacity (MSC) of member countries that will be used as reference for 2027 production baselines”. Whereas the long-term nature of the undertaking elicited little response from oil markets, commodity analysts at Standard Chartered have noted that…