Opec to stick with no cuts policy in Vienna
Opec is likely to sit on its hands this week in Vienna, hoping the market vindicates its policy in 2016
Global oil stocks are at record highs. The demand surge of 2015 is over and consumption growth next year will be more modest. US interest rates may be about to rise, putting more pressure on crude prices. Opec is producing well above its agreed ceiling. Non-Opec output continues to chug along at levels above expectations. It makes for a bearish picture, but barring a major surprise Opec will stick to its no-cuts policy in Vienna on 4 December. None of the necessary pre-meeting work to change tack has happened and price support is not on the agenda. Market recovery remains the goal of lynchpin Saudi Arabia and the other Gulf members. When Opec does get back to cutting, it will happen in a fir
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
