Market Reflections

Thoughts, ideas and musings on current state and evolution of financial markets

OPEC Increasing Production Even as Demand Remains Weak

Raymond | May 30, 2009

May 28: As expected, OPEC members, who account for 40% of global oil production decided to leave production targets unchanged from those agreed to in December 2008 and upheld in March 2009. The next meeting will be held on September 9, 2009. Compliance with set targets has fallen from 80% in Feb to below 70% [...]