Will Riley, co-manager of the Guinness Global Energy fund, examines the impact of planned cuts discussed at the recent OPEC summit on the oil market and energy equities.
Following days of speculation, OPEC concluded their formal meeting on 30 November with an agreement to cut production levels. This ratifies the 'Algiers Accord' which took place on 28 September, when planned cuts were first announced. The announced cut is a clear positive for near term oil prices and will tighten the oil market in 2017. But it has also thrown up many questions on the likelihood of OPEC members keeping to the agreement and the implications for oil prices and energy equities. Oil hits year high as Putin backs plans to limit supply Here, I answer some of those questio...
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