| ESAI Energy wrote in its October 2?Year Global Crude Oil Outlook, released on October 30, that we believe there could be some kind of agreement or joint OPEC statement in November, if for no other reason than to show some organizational cohesion to counter critics who say OPEC is unimportant. But, the intention, whether stated or not, will be to prevent further price decline rather than lift prices.
After an intentionally modest effort to reduce output in early 2015, does OPEC go further later in 2015 or in 2016? Absent a new supply disruption somewhere, the fundamentals will only get worse in 2016. ESAI Energy expects the call on OPEC crude to fall to 28.3 million b/d in 2016 from roughly 28.8 million b/d in 2015...............................................Full Article: Source
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