RigData Insights

Does OPEC Have a Game Plan for our Projections?

  • Monday, March 13, 2017
  • Posted By Meagan Wildfong

 CoverComments031317

 

What is OPEC’s (Saudi Arabia’s, really) Plan B if US oil production growth bounces back bigger than expected?

 

The Saudis returning to the role of swing supplier, providing production cuts even greater than pledged under an accord with other OPEC nations and Russia, had revived oil markets. But the drilling rebound in the US and its consequent rapidly escalating oil production will soon test the Saudi resolve, contends Platts RigData in the RADAR Report. Oil prices are weakening again, and Saudi officials are decrying “free riders.”

Call 1-800-627-9785 to subscribe to Platts RigData’s RADAR Report, the leading statistical monitor of overall land rig market activity and drilling trends by region, play, operator, driller, and many other proprietary metrics.

 

Oil Prices Radar Oil Production OPEC

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