Since OPEC expanded challenges have become larger
Letter from London: OPEC’s new chapter
Scepticism, confusion and disdain over OPEC+’s extended and deeper supply cuts should give way to an appreciation of the new multi-speed producer alliance
It is easy to see the dysfunctional disconnect between OPEC+ members as a weakness as they once again haggled over quotas and output baselines, fudged reductions and put fresh spin on questionable cuts. But with an alliance made up of competitive producers held together by mutual self-interest, discord will often be part of the discourse. OPEC+ delivered, and oil watchers have their eyes wide shut on the alliance’s ability to balance the market. When the oil-producing pact announced in early December that it will deliver an extra 2.2m b/d in voluntary cuts during the first quarter of next year at least, industry participants looked on with a mixture of cynicism and uncertainty. But these rea
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
