Over-Achieving OPEC… WSJ

by Jim Colburn • Sunday, November 26, 2017

OPEC may be doing too much suggests the Wall Street Journal:

”The Organization of the Petroleum Exporting Countries’ 14 members and other major producers like Russia are widely expected to strike an agreement this week to continue withholding about 2% of global oil supply from the market. The national energy ministers of about two dozen countries are set to meet Thursday at the oil cartel’s headquarters in Vienna…

Some members, along with outside analysts, say that OPEC could overstimulate the market and send prices too high next year. That, in turn, risks depressing demand for crude.”

OECD stock levels are declining (but still over the 5 year average):

 

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