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
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
