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FGE's reaction to the OPEC meeting

Oil
 

  • Potential oversupply of 1.5 mmb/d, after OPEC’s decision not to cut
  • Stocks position could quickly rise above the very high levels seen in 2008-09
  • Severe pressure on prices likely in early 2015: Brent possibly below $50/bbl 
  • OPEC unwilling to act without sign of non-OPEC voluntary/involuntary cuts
  • Oil price in 2015 now projected to average around only $55-65/bbl Brent

 

Summary of FGE Alert - Potential Implication of OPEC Meeting, 28 November 2014, available to FGE Retainer Clients. If you are interested in obtaining further information on our retainer services, please contact FGE's Marketing (details below).

Further Information

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