Analysts of investment bank Goldman Sachs state that there is approximately a 35% chance that the countries in the OPEC + alliance will decide to intensify the cut in oil production at the next meeting. The agency reports that Interfax.
According to Goldman experts, additional restrictions may come in early 2024 to protect against weakening oil demand. However, the bank believes that we will be talking about a small discount for a short period of time.
In particular, Saudi Arabia, Russia, UAE, Iraq and Kuwait may reduce production by a total of 0.5-1 million barrels per day in January-March 2023. At the same time, Goldman Sachs’ base case assumes the preservation of current parameters and the extension of the voluntary restrictions of the Russian Federation and Saudi Arabia until the end of the first quarter of 2024.
Before that, Deputy Prime Minister Alexander Novak announced The possibility of lifting the ban on the export of diesel fuel from the Russian Federation.
Previously RF decreased Seaborne oil supply drops to record low in three months