Training on banks and NBCOs, January 24–25

Future looks promising for oil producers

Expected impact of the OPEC oil production cutback agreement on Russia and the global market

Contributed to The Oil and Gas Vertical periodical, #1-2, 2017

As the year 2016 ticked away, the world was abuzz with the news of the December OPEC agreement between the member and several non-member countries to cut back on oil production. Now time has come for following up on last year’s commitments and evaluating the potential outcomes.  

It is reasonable to expect that a small oil supply deficit will form on the global market in 1Q2017 — all the more so as the growing production in the uncommitted countries will only minimally sway the market equilibrium. The growing demand will also fuel these producer-friendly tendencies, and if the December agreement is extended till the year-end, the results will be even more profound.

The main risk for the market is often considered to be a potentially explosive growth of production in the U.S. if the oil prices climb above the current level. For one thing however, they will not climb until such time as the WTI crude oil price reaches…

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To clarify the cost and terms of payment, please contact Maksim Ivakaev

phone: +7 (495) 139 04 80, доб. 164, email: maksim.ivakaev@acra-ratings.ru

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