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OPEC: Extension of output cuts coming? - BBH

Analysts at BBH suggest that official comments have led investors to expect that OPEC and non-OPEC countries will agree to extend the output restraint through the end of next year.  

Key Quotes

“Currently, the output cuts have been agreed through March 2018.  Compliance has been robust, according to various account.”

Higher Prices and Inflation:  A combination of the OPEC and non-OPEC restraint, some political issues, such as in Libya, and "normal" pipeline problems have helped lift prices.  Brent may be up 8% this year, but it is up nearly 45% since the late June lows.  The front-month futures contract has closed above a barrel for five consecutive weeks.  Light sweet crude has risen 20% this year and is up 40% since the low near midyear.  This can be expected to feed through into headline CPI measures.”   


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