OPEC deal review: Compliance is necessary, else deal could falter - IHS Markit

Dec 05, 2016, 01:58 PM

As per Spencer Welch, the writing on the wall is clear… OPEC members, especially the likes of Iraq need to play by the rules of the game or else the OPEC deal could fall apart in May 2017.

The new oil price range is likely to be $50-$60, says Welch and cites Russia’s participation as the one adding credence to the OPEC deal.

What if Iraq does not play by the rules of the game? Libya and Nigeria restore production, who will take the additional cuts? What would happen to oil price if the OPEC deal fails?

Check out the full segment for the answers

#Oil, #commodities, #energies, #OPEC, #SaudiArabia, #Iran, #Iraq, #demand, #supply, #Russia, #fundamentals