Latest PRO Memo: OPEC+ faces critical decision on next moves. Source: AL MONITOR

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Latest PRO Memo: OPEC+ faces critical decision on next moves

In a new PRO memo, Karen Young dissects the difficult decision ahead for OPEC+ regarding their 2016 production agreement.

Austrian policemen guard the entrance of the Organization of the Petroleum Exporting Countries (OPEC) headquarters during the 176th meeting of the OPEC conference and the 6th meeting of the OPEC and non-OPEC countries on July 1, 2019 in Vienna, Austria. (Photo by JOE KLAMAR / AFP) (Photo by JOE KLAMAR/AFP via Getty Images)

August 2, 2022

OPEC and a set of additional oil producers will meet this Wednesday, Aug. 3, to decide whether it can hold together for longer and at what production targets. This comes at a moment of extreme uncertainty on global demand for oil and Russia’s ability to continue exports as EU sanctions kick in. Karen Young explains the oil cartel’s options in her latest PRO memo.

If you’re a PRO member, you can read the full report here, as well as other memos offering expert insights into topics like:

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