Oil stability has become the codeword for an implied price floor
Opec+ mastering art of targeting prices without targeting prices
Two-speed producer group is now nimble enough to make price floor work
Opec messaging could not be any clearer: oil stability has become the codeword for an implied price floor, with Saudi Arabia’s ire constantly aimed at speculators. While some commentators were caught up in the complexities of geopolitical doublespeak to explain Opec+’s surprise voluntary production cut in early April, the reasoning for the 1.66mn bl/d reduction from May through December—which includes a 500,000bl/d cut from Russia—is much simpler: uncertainty over the demand outlook. What is more nuanced is Opec+’s newfound approach. Unshackled by those cartel producers themselves shackled by production constraints, Saudi Arabia and its predominantly Middle Eastern cohorts were able to move
Also in this section
11 February 2026
Panellists from three LNG buyers at LNG2026 in Doha outlined their evolving procurement strategies as they navigate heightened market volatility
11 February 2026
North African producer plans to boost output by early 2030, with Europe its number one priority as export destination
11 February 2026
Maritime leaders at LNG2026 warned of the dangers of over-regulation on competitiveness, sustainability and innovation
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
