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Takeaway: Press reports this morning that OPEC will extend production deal for 9-months, per Hedgeye Forecasts

Join us for a FLASH CALL today at 1pm ET for analysis after OPEC’s meeting with Hedgeye Energy Policy Analyst Joe McMonigle.

While press reports are confirming that OPEC has already decided to extend the production cut deal for a longer 9-months into 2018, OPEC is now meeting with Non-OPEC nations to seek agreement to join the extension.

Hedgeye has been advising clients since last week that the 9-month extension was the most probable outcome.  However, post-OPEC press conferences now take on new importance since Saudi Arabia’s oil minister Khalid al-Falih is now also serving as OPEC President.  The press conference is scheduled for 3pm Vienna time or 11am ET today with Minister al-Falih and Russian energy minister Novak so we will be watching for key market signals in their comments.

CALL INFO:

Thursday, May 25, 2017

1:00 PM ET

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Confirmation Number: 13663422