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
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
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
