OGJ Newsletter

Is there a chance OPEC will boost oil production in response to rising oil prices?Don't count on it. With the Sept. 22 ministerial meeting looming and oil futures trading near $22/bbl, all the signs are that the group is in full agreement to extend the current, successful round of production cuts to the end of next March, when it is scheduled to meet again.If anything, OPEC is hinting that it may extend the production cuts even beyond March, if oil prices soften then, as they usually do in the seasonally weaker spring demand period. That was the gist of comments from OPEC Sec. Gen. Rilwanu Lukman, who told an Indonesian oil and gas conference last week that the plan is for OPEC to kee...

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