Archives of “Mohammed Barkindo” tag

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OPEC’s Barkindo reportedly confirms next OPEC+ meeting to be held in March

  
Analysis, Crude
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RIA reports, citing remarks by OPEC secretary general Barkindo

Barkindo

It appears that Barkindo has shot down rumours of the OPEC+ meeting potentially being postponed to June, with the headlines also saying that none of the OPEC+ members had asked for a different time for the meeting.

In any case, it’s only the end of January now. Two months is an extremely long time in OPEC world so just be mindful that they could still easily change their minds on this.

OPEC Barkindo: Could see sharp supply fall in 2020 from US shale output

  
Analysis, Crude
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OPEC Secretary-General Barkindo

OPEC Secretary-General Barkindo is on the news wires:
  • likely C# downward revisions of supply going into 2020 especially from United States shale output
  • fundamentally global economy range strong
  • there is no sign of global economic recession
  • Demand numbers for 2020 has potential for an upside swing
  • confident OPEC+ members will continue with their agreement in 2020
  • some US oil companies see shale output growth in 2020 only up by around 300,000-400,000 BPD. That it is not as high as OPEC optimistic estimates
  • Saudi authorities have reassured US that Aramco IPO won’t affect kingdom’s role within OPEC as the biggest producer
  • no one in OPEC+ wants to return to where we came from during oil prices downturn
  • The Aramco IPO won’t affect Saudi Arabia’s participation in supply adjustments to ensure oil market stability
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