Participants in OPEC+ Meeting Should Be Telling

In this week’s Rigzone market commentary, Validere’s Mark Le Dain sat down with Matthew V. Veazey at Rigzone to discuss the OPEC alliance meeting alongside energy advisor Phil Kangas. Keep reading for more details. 

As the OPEC alliance plans to meet this week, market commentators discuss how the group’s intentions may be partially revealed through which oil producers participate in the meeting. 

Phil Kangas pointed out an item to watch is whether or not OPEC will stand by their decision to increase production by 2 million barrels a day over the next couple of months. If a monitoring committee meeting replaces the ministerial gathering, we should expect the execution of the current strategy. If the full committee decides to meet, we should be watching production decisions.

Validere’s Mark Le Dain added that the gasoline imports should decline and provide a more clear perspective on demand. Click here to read more.

Mark Le Dain