In an interview given to L’Orient Le Jour, Dr Carole Nakhle, CEO of Crystol Energy, comments on the historic OPEC+ deal reached in April. According to Dr Nakhle, the outcome was somehow expected, especially following earlier statements by President Trump about the need for Saudi Arabia and Russia to put their differences on the side and agree a production cut of at least 10 million barrels per day.
Dr Nakhle also adds that on the surface, Saudi Arabia appears a winner since it managed to ‘reinstate’ discipline within OPEC/OPEC+ and bring an even larger group of countries to support its call for production cuts. However, as the last few years have shown, it may end up shouldering the biggest cut as other members fail to deliver on their promises.
Read the full article (in French)
“A Saudi-U.S.-Russia Oil Deal Is Not a Good Idea”, Christof Rühl, Apr 2020
“Gulf Intelligence Energy Markets Commentary – Historic OPEC+ Deal”, Dr Carole Nakhle, Apr 2020