Oil: Focus on OPEC and non-OPEC ministers meeting - ANZ

A meeting of some OPEC and non-OPEC ministers tonight comes at an interesting time for oil markets and will be a key event for oil prices going forward, according to analysts at ANZ.

Key Quotes

“Not only are oil prices heading south again, but some analysts are actually predicting a rise in OPEC supply over the coming months, despite an agreement to do the opposite. While this partly reflects increased supply from Libya and Nigeria (two countries not part of the production cuts), that is not solely the reason. When it comes to OPEC it still seems to be a case of ‘watch what I do, not what I say’.”