
Blog posts tagged by tag: OPEC
-
OPEC deal: Will OPEC comply? Who will really benefit?
The OPEC deal is done and the news sent oil prices soaring yesterday. The deal, which is designed to curb record-high global oil inventories, has been mooted as a possibility since last February when prices dropped to their lowest prices in over a decade.
It’s taken almost a year, but the deal is done, overcoming disputes between the cartel’s three biggest producers, Saudi Arabia, Iraq and Iran. The deal, which also includes non-OPEC member Russia, represents the first time in 8 years that OPEC agreed to cut oil production and the first time Russia, one of the largest oil producers outside of the cartel, has agreed to cut production in 15 years.
-
What impact could the lifting of economic sanctions on Iran have on Africa’s major oil exporters?
As Iran ordered a ramping up of production by 500,000 on Monday, Persian tankers were already filling their hulls with millions of barrels of low-sulphur crude, destined mostly for European markets. Although there are some factors restricting the accessibility of Iranian crude to foreign markets, especially given that U.S. institutions are still barred from Iranian oil transactions, Iran will want to regain market share it has either lost, or never had access to. This will most likely translate to more supply of high-quality hydrocarbons and downside pressure on prices.
Top Posts
-
Will the Fed’s rate hikes lead to a recession?
-
China’s economy: Heading for a hard landing?
-
Euro area prospects grow bleaker: Is there light at the end of the tunnel?
-
Covid impact on East Asia's GDP
-
Iranian nuclear deal held hostage by Russia
-
Sanctions leave Russian rouble routed
-
China and the world: a slow goodbye?
Featured Posts
-
Will the Fed’s rate hikes lead to a recession?
-
Inflation: how high will it go?
-
Euro area prospects grow bleaker: Is there light at the end of the tunnel?
-
Covid impact on East Asia's GDP
-
Iranian nuclear deal held hostage by Russia
-
Sanctions leave Russian rouble routed
-
China and the world: a slow goodbye?
Twitter @FocusEconomics
-
Argentina's economic momentum seemingly weakened further in the first quarter of this year, according to available… https://t.co/Hlq0kt1uAK
1 day ago
-
LATAM's regional growth will slow sharply this year on surging average inflation and higher interest rates. However… https://t.co/Bwd0ORicVn
2 days ago
-
Economic prospects have plummeted for both Russia and Ukraine since the outbreak of the war, with Ukraine's economy… https://t.co/JDeVa438zG
3 days ago
-
The majority of economic news has been decidedly gloomy in recent months. However, there is one region we cover whi… https://t.co/V1w1T2digf
4 days ago
-
Regional GDP is forecast to contract markedly this year as the war devastates the Ukrainian economy, while the Russ… https://t.co/4Ut9QNYdvK
1 week ago
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.