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
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
