Reaction slow to OPEC cut

Energy markets were slow to show confidence that members of the Organization of Petroleum Exporting Countries would follow through on an agreement to reduce production by Nov. 1.The November contract for benchmark US crudes gained 85¢ to $58.50/bbl Oct. 19 in New York as Saudi Arabia endorsed a counterseasonal proposal to reduce production by 1 million b/d at the group’s meeting in Qatar. But it expired at a 16-month low of $56.82/bbl Oct. 20 after OPEC voted to cut actual production by 1.2 million b/d to 26.3 million b/d, well below the 28 million b/d ceiling set 2 years ago.Cold weather and a bigger-than-expected reduction of US petroleum inventories helped boost the new fron...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected