They are producing over 34M now and the freeze means slashing output to 32.5M barrels. So basically there should be some impact on the market, although it will have little help speed up rebalance.
OPEC oil deal and what does it mean for the market.
- Thread starter Michael J. Fletcher
- Start date
If fracking costs drop , what impact will that have on production in the U.S once opec gives up market share ? Its an argument I ve been hearing since they started talking about it. That s if they actually freeze
Technically you're right, though I doubt that there will be some immediate consequences for the market.
I am so sick of these oil producing countries, how could it happen that most of the oil resources is located in the hand of the corrupted countries?!