PREVIEW: JMMC and OPEC+ on Wednesday 5th October from 13:00BST/08:00EDT

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Analysis details (15:46)


OPEC+ is likely to agree on output cuts, with expectations ranging from 0.5-1.5mln BPD, as per several source reports, with the more recent reports tilting towards the top end of the range.


OPEC+ will be meeting in person in Vienna for the first time since March 2020. The Joint Ministerial Monitoring Committee (JMMC) will review the findings of the JTC and make a recommendation to the decision-making OPEC+ group.


PRICES: Crude prices have been volatile and on a downward trajectory throughout the second half of the year due to demand woes emanating from deeper recession fears – with Brent prices down almost USD 15/bbl from the high seen at the prior meeting.

DEMAND: The fear of recession against the backdrop of rising interest rates from major economies has provided a double whammy to the demand side of the equation.

SUPPLY: Limited spare capacity has been an ongoing burden for the group of oil producers.


03 Oct 2022 - 15:45- Research Sheet- Source: Newsquawk

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