Will OPEC+ decide to cut production at Dec.Vienna meeting?

摘要

Global crude prices began dropping in early Oct.,and the pace of the plunge quickened during the week to Nov.24.Even so,there have been no indications that OPEC plans to hold an extraordinary meeting,with its next gathering scheduled to take place in just over a week.With prices already falling and projections from numerous analysts saying demand will be lower than previously forecast this year and next,the logical assumption would be for OPEC to reduce production as it did in 2017 under die Declaration of Cooperation(DoC).OPEC’s forecast for full-year 2018 consumption is now 98.79MM b/d,representing growth of 1.50MM b/d compared to the previous forecast for growth of 1.54MM b/d.