1 min read
OPEC Production Cut | Advisor Pulse
December 1, 2016
Share:
After several eleventh-hour negotiation breakdowns at its meetings over the past two years, OPEC announced on November 30th that it had reached a substantive agreement to collectively cut oil production in order to limit global supply and lift prices. According to the terms of the agreement, OPEC will cut its collective production by 1.2 million barrels per day (mmbd) or about 3-4 percent. Saudi Arabia, the de facto leader of the OPEC, will take on the largest cut at nearly 0.5 mmbd.
Looking for more insights into fuel pricing trends and global factors affecting shipping costs? Get a recent version of the Breakthrough Advisor Brief when you fill out the form at the bottom of this page to gain access.
2 min read
April 23, 2024
Fuel Recovery and T-Fuel Fortify Energy Market Risk
Discover how Fuel Recovery and T-Fuel can transform your fuel price risk management strategy. Achieve budget certainty, maintain relations, and mitigate risk.
Read more4 min read
April 22, 2024
How to Improve Freight Procurement and Achieve Cost Savings
Learn how adaptive RFP processes can transform your freight procurement strategy to achieve cost savings, navigate disruptions, and improve ongoing compliance.
Read more4 min read
April 19, 2024
What the continuing Middle East conflict means for transportation supply chain costs | Advisor Pulse
Explore the profound impact of the Middle East conflict on the transportation sector, including an analysis of recent events and the resulting effects.
Read more