OPEC deal skeptics… Bloomberg – Commodity Research Group

October 25, 2016 by Jim Colburn Leave a Comment

Have we covered this yet? Here is Bloomberg doing the math:

“In Algiers, OPEC agreed to reduce its production to a range of between 32.5 and 33 million barrels a day. That means for Saudi Arabia and other countries willing to cut, the numbers look like this. In a best-case scenario — based on Nigeria meeting its target to restore production, Libya maintaining recent improvements and Iran, Iraq and Venezuela staying at September levels — reductions of 1.3 million barrels a day would be required to meet the top end of the Algiers target. In a worst case, where Iran, Iraq and Venezuela produce more than they did last month, that rises to over 2 million barrels a day…”

The link is here: http://www.bloomberg.com/news/articles/2016-10-25/saudi-arabia-faces-worsening-opec-equation-as-exemptions-mount

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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