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
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
