As good as it gets for Opec
Compliance with the Opec deal is defying the group's sceptics. How long can it last?
Opec's supply deal is off to a flyer. Compliance among the members that agreed to cut production is more than 90%. Brent, trading above $55 a barrel in mid-February, is about 14% above its price just before the group's meeting at the end of November 2016. But keep the champagne on ice. January's level of compliance will probably be the high-water mark of this Opec agreement. Discipline fades over time. The more successful the cuts are in raising the price, the greater the temptation for members to cheat their quotas. And the biggest producers stand ready to react when the deal unravels. Compliance is uneven. Saudi Arabia has slashed almost 0.5m barrels a day, according to Opec's secondary so
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
