CS Energy OPEC Feb 2014

OPEC faces big challenges


So far, any decline in the oil price has been precluded by the cold winter in the US
and major unscheduled production outages. The coming months could see oil supply from Libya and Iran returning to the market, in which case OPEC would be producing much more oil than is needed. We anticipate that Saudi Arabia will scale back its oil production so as to prevent any price fall, meaning that the oil price is likely to remain within its familiar trading band.

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