Monthly Short-Term Crude Oil and Petroleum Products Price Forecast
Published December 29, 2016
Arlington, Virginia – December 29, 2016 – EVA Decodes OPEC’s Fuzzy Math and Finds Global Glut to Persist Through 2017.
In EVA’s recently released Monthly Short-Term Crude Oil and Petroleum Products Price Forecast the OPEC plan for balancing global oil markets by the end of the first quarter of 2017 is reviewed. Based on that review, EVA finds that the recent proposed OPEC and associated non-OPEC production cuts are based on fuzzy math, which will likely add to ‘actual’ versus ‘expected supply. The report details the several ways in which the ‘top line’ production cuts that are described in press reports are not necessarily consistent with the underlying details. In addition, the usually difficult process of OPEC member compliance is exacerbated by the addition of non-OPEC member pledges to also cut production. Until supply issues become more certain to the market, EVA expects significant price volatility through the next several months.
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