Insight
OPEC+ and the oil market: The art of the deal
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
This Insight is available free of charge when you purchase our Macro-Oils Short Term Outlook. Add both reports to your cart and use code OPECfree at checkout.
Report summary
The OPEC+ agreement reached on 10 April 2020 to cut 10 million b/d, even if not fully implemented, is large enough to have a dramatic impact on supply and demand fundamentals. This remarkable global agreement reflects the scale of the pandemic crisis and the widening economic worries. In this Insight, we assess the impact on the market and supply and demand fundamentals. For this analysis of the OPEC+ meeting, we started with the 30 March 2020 Monthly Update forecasts. A detailed forecast will follow in our early May Macro Oils Monthly Update. Topics covered: • Potential effect on prices • Initial assessment of supply and demand balance • OPEC production adjustments • Mexico’s unexpected role
Table of contents
- Supply reaction
- Mexican quota
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
OPEC+ production cuts tracker
Includes 7 September agreement to unwind a second tranche of production cuts from October 2025.
$1,350
Insight
Implications of our tariff scenarios for oil and refining
We use our three tariff scenarios to chart paths forward to 2030 for oil fundamentals
$1,350
Insight
Russia-Iran gas partnership: strategic shift or symbolic move?
Russia and Iran signed a landmark gas deal to supply up to 55 bcma via Azerbaijan.
$1,350
