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OPEC+ Likely To Hold Production Flat In 2023: Energy Aspects

OIL

OPEC+ is unlikely to increase oil output this year, Amrita Sen, director of research at Energy Aspects said.

  • “Having spoken to quite a few officials in Riyadh, the motto was very much to stay put this year — no changes to OPEC+ policy, regardless of the volatility we see in prices”, Sen said.
  • “We really believe OPEC+ will hold production flat for the full year”, she said.
  • “Refining margins have been very, very strong, clearly a sign that product markets are tight. The Saudi official prices are reflective of that.”
  • Still, “we will be at $100 in the second half of the year.”
Energy BulletsCommodities
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