More Production Cuts Coming Up From OPEC+ - Forex News by FX Leaders

More Production Cuts Coming Up From OPEC+

Posted Tuesday, October 22, 2019 by
Skerdian Meta • 1 min read

Reuters reported just now, citing four OPEC+ sources implying that there will be further production cuts and quotas, to be decided at the December meeting. Below are the pointers:

  • OPEC and allies to consider deeper oil cuts at December meeting due to demand growth outlook in 2020
  • Iraq and Nigeria are among the countries that have failed to properly comply with cuts
  • Saudi Arabia has pumped somewhere around 300k bpd below its quota
  • “It is early now, things will be clearer in November”
  • “Of course deeper cuts are an options, but some things should happen before that”
  • “To reassure the oil market, it would be better to deepen the cuts” due to soft winter demand

 

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of