What Happens If The OPEC Deal Expires?

OPEC appears to be nervous that its production cut deal will
once again fall short, and the group is already discussing the
possibility of yet another extension. While the aftermath of
Hurricane Harvey continues to drive headlines in the energy sector,
the attention will once again shift back to OPEC as the year wears
on and we head into 2018. OPEC had hoped that a nine-month
extension of its original six-month production cut deal – 1.2
million barrels per day from OPEC, plus reductions of nearly 0.6
mb/d from non-OPEC countries – would…

OPEC appears to be nervous that its production cut deal will
once again fall short, and the group is already discussing the
possibility of yet another extension. While the aftermath of
Hurricane Harvey continues to drive headlines in the energy sector,
the attention will once again shift back to OPEC as the year wears
on and we head into 2018. OPEC had hoped that a nine-month
extension of its original six-month production cut deal – 1.2
million barrels per day from OPEC, plus reductions of nearly 0.6
mb/d from non-OPEC countries – would…