OPEC: Consensus expecting no agreement to cut output - BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at BBH, suggests that the OPEC meeting has begun, with the consensus expecting no agreement to cut output.

    Key Quotes

    “However, the timing of the next meeting may be indicative of the flexibility of the stance. The sooner the next meeting, the more some will conclude that a change is possible. Making room of Indonesia is not a big deal. It is really more of an accounting function—shift output (~800k barrels a day) from the non-OPEC ledger to the OPEC column.”

    “Considerably more problematic is Iranian output. It is larger; the Iranians feel more entitled given the years of sanctions (which are expected to be lifted in early 2016), and the rivalry with Saudi Arabia more intense.”
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