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Category Archives: 1980–89 world oil market chronology

A Second Look At The OPEC Deal: Here’s What Can Go Wrong

Defying numerous skeptics, today’s historic OPEC decision to cut production, a first since 2009, marks a clear turning point in cartel, and especially Saudi Arabian, politics: individual country quotas have been allocated to all members, a third-party production verification process has been established, and the world’s largest crude oil producer Russia has committed to freeze […]

Oil Tumbles As OPEC Deal Seen Increasingly Unlikely: SBC Says “Very Low Chance” Of Agreement

One day ahead of OPEC’s much anticipated meeting in Vienna, oil has slid back under $46 on rising pessimism that an oil production cut deal, taken widely for granted as recently as last week, is not going to take place. Here is the latest rundown of events heading into the Wednesday meeting. As Bloomberg highlights, […]

38 or 58 – You Choose OPEC (Video)

By EconMatters In this video we discuss the latest posturing ahead of the OPEC Production Cut Decision, and the associated consequences for the price of oil based upon another failure out of OPEC. Your right Saudi Arabia you don`t have to cut, see you at $38 a barrel! This is probably the last straw for […]

OPEC Releases Schedule For Nov. 30 Meeting; Fails To Agree On Anything Else

In an intraday update on the current status of pre-summit negotiations taking place Monday in Vienna, an OPEC delegate told Bloomberg that there have been “no big changes in the position of either Iran or Iraq” at the high-level committee talks, which began 8 hours ago, in Vienna. As a reminder, both Iran and Iraq […]

Oil Slides: OPEC “Deal” Suddenly In Jeopardy

Earlier today, oil spiked and pushed stocks to new all time highs, after the Nigerian OPEC delegate Ibrahim Waya said that not only is “everyone on board” ahead of the November 30 Vienna cartel summit, but that he expected details of the output accord would be finalized today. That, however, was put in question later […]

Oil Tumbles After BMI Slashes Probability Of OPEC Deal Due To Trump Victory; Dollar Surge

Yesterday we reported that there is a small, but not improbable, chance that Trump could end up becoming OPEC’s best friend should the president elect seek to undo Obama’s landmark foreign policy deal, the Iran Nuclear Agreement: “suddenly there is a ray of hope in OPEC’s dark world, and it comes courtesy of president-elect Donald […]