Gulf members try to shore up Opec's credibility
But a pathway out of the cuts is still not clear
Opec's big guns are pulling out the stops. It should do the trick, tightening physical supplies and inflating the price this quarter, at least until refining maintenance kicks in again. But the big question remains: what is the end game? For now, the policy is reactive, not proactive. Opec needed to do something and has. The backdrop to its latest meeting in St Petersburg earlier this week wasn't pretty. Compliance with the cuts has started to creak. Brent, at around $48 a barrel on the eve of the summit, had fallen by more than 10% since Opec and its non-Opec partners agreed in May to extend their deal. Market sentiment in recent months has been deeply bearish. Bigger problems have been b
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
