Cantor Fitzgerald

Opinion

Opinion: Crude could hit $60 if nations stick to output cuts

31/05/2017

As expected following comments ahead of the meeting on behalf of Saudi Arabia and Russia, OPEC members have agreed to prolong the existing production curtailment (a cut of 1.8m bbl/d including Russia’s cuts) to the first quarter of 2018. OPEC has a self-imposed goal of bringing stocks down from a record high of 3bn bbls to the five-year average of 2.7bn bbls.

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