OPEC meeting could signal an extension of the output cut deal – TDS
Strategists at TD Securities believe the crude oil carte could announce an extension of the OPEC production cut deal beyond March 2018 at this week’s meeting.
“OPEC and Russia are likely to signal an extension to the current production discipline for most of 2018”.
“However, given expectations of a done deal from OPEC, there is a risk we see a price correction if there is any waffling or reservations”.
“We expect OPEC to say that the cuts will be for as long as required, suggesting less than the full year. As such, we are likely to have a modest move lower. TDS projects a balanced market next year”.