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OPEC sees vindication for production cut deal

  • Eesha Muneeb
    Eesha Muneeb

    Senior specialist, oil price assessments of S&P Global Platts

Singapore | Tue, November 14, 2017 | 10:49 am
OPEC sees vindication for production cut deal A Saudi Aramco oil installation. Analysts say Saudi Arabia’s new leadership is trying to use the oil price collapse to remake the country’s economy. (AFP/Marwan Naamani)

PREMIUM Almost one full year after Organization of the Petroleum Exporting Countries’s (OPEC) landmark decision to hold production at 32.5 million barrels/day (b/d), oil prices crossed a significant upward barrier, with the December ICE Brent crude oil contract breaching US$60/barrel in the last days of October this year, up almost $10 year on year. Then, OPEC members and 10 non-OPEC producers le...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.