(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.)
The OPEC+ alliance of major oil producers plans to meet this week. Who will participate in the meeting should provide a clue about the group’s intentions, says one of Rigzone’s market observers. Read on for his explanation, along with a perspective on the direction of U.S. gasoline imports, in this installment of what to watch in the oil market.
Phil Kangas, U.S. Partner-in-Charge, Energy Advisor, Natural Resources and Mining, Grant Thornton LLP: Whether OPEC+ stands by the decision to increase production by 2 million barrels a day in stages over the next few months will be an item to watch. The ministerial gathering scheduled for April 28 may be replaced with just a monitoring committee meeting, which would signal continued execution of the current strategy. If the full committee does decide to meet, will be watching production decisions and the resulting effect on the energy market.
Mark Le Dain, vice president of strategy with the oil and gas data firm Validere: In the next few weeks the gasoline imports to the U.S., which were in response to the Texas freeze, should decline and give a better picture of demand, which is looking fairly robust.
To contact the author, email mveazey@rigzone.com.
No comments:
Post a Comment