Supply Crisis Is Looming On Horizon’ If OPEC+ Makes More Cuts – Energy Expert

OPEC countries have decided to postpone a decision regarding the future of a deal with several non-OPEC states to reduce oil output, and thereby supply, on the market until June 2019. The cuts in production are expected to be prolonged or partially lifted this summer.

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Is the OPEC, Russia Honeymoon Over?

During the next few months the oil market could be hit—again—by some decisive changes, as the bromance between OPEC and Russia seems to be cooling down. Russia’s mainstream oil producers Rosneft, Gazprom and Lukoil increased pressure on Russia’s president Vladimir Putin to slow down preparations for the expected marriage with OPEC.

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