ClipperClip: OPEC cuts already being unwoundTags: Kuwait oil exports, OPEC oil production, OPEC production cuts, Saudi oil exports, UAE oil exports
Last night’s appearance on CNBC Asia highlighted that OPEC is definitely going to unwind the production cut deal. In fact, it appears they already have.
Historically, production rises ahead of an OPEC quota increase, and Saudi Arabia, Kuwait and UAE – the key proponents of the OPEC production cut deal – are all showing significantly higher crude exports so far this month, as spigots are opened once again.
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About The Author
Matt is a Director of Commodity Research at ClipperData. Matt specializes in extracting key themes from technical and fundamental analysis of the global energy market, and communicating these through daily and weekly deliverables. He also provides oil and natural gas analysis and commentary to national and international media outlets that include CNBC, Fox Business, Russia 24, the Wall Street Journal, MarketWatch, AFP, Bloomberg, Reuters, and the Oil Daily. Prior to joining ClipperData, he worked for eight years at Schneider Electric / Summit Energy as a Global Commodity Analyst, where he also founded and authored the blog, Energy Burrito. He started his career at the Royal Bank of Canada in the UK, spending eight years with the bank. During that time, he managed $55 million in assets as a portfolio manager and financial analyst.