Saudi Arabia

OPEC+ could be more potent in 2024 as non-OPEC+ supply growth slows

  • Latest OPEC+ output is smaller than expected because of no additional Saudi cut: some Christmas cheer for importers

  • But OPEC+ output decisions could be even more influential in 2024 as non-OPEC+ (US, Brazil, Guyana) output growth slows

  • Charts here on oil and food prices, oil exporter fiscal break-evens, oil trade exposure, oil exporter equity valuations

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December 1st, 2023
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