In a meeting that unfolded -– at least to S&P Global Platts OPEC specialist Herman Wang's eyes -- just like the Eurovision pop song contest, OPEC and its non-OPEC partners decided on May 25 to extend their 1.8 million b/d in production cuts through the first quarter of 2018. Herman explains the Eurovision connection and also catches up with Yasser Elguindi, an analyst with Medley Global Advisors, to break down the meeting’s results and their impact on the global oil balances.
The podcast also delves into the diplomatic row between Qatar and its fellow OPEC members Saudi Arabia and the UAE, along with Bahrain and Egypt, that is providing some disruption in the market and heartburn for physical traders.
And in the podcast’s Get to Know an OPEC Member segment, this month's episode focuses on Iraq, with an interview with Ben Van Heuvelen, editor in chief of the Iraq Oil Report. Ben discusses with Herman Iraq’s discrepancies in oil production figures, negotiations with international oil companies over contract terms, the country’s fight against the Islamic State, the outlook for the Kurdistan region’s oil sector, and more.
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