Takeaway: Russia insisted on a June review of the OPEC production cut deal. Join us for a preview of that meeting and the end game of the deal.

Join us for lunch to hear from Chakib Khelil, former OPEC President and former Algerian energy minister, for a preview of OPEC's next steps as it approaches its June meeting and begins discussions on the end game for the production cut agreement with Russia and other non-OPEC producers.

Thursday, March 15, 2018
12:30 PM
Location: The National, 557 Lexington Avenue, New York, NY
RSVP to sales@hedgeye.com

Friday, March 16, 2018
12:30 PM
Location TBD
Boston, MA                                                                   
RSVP to sales@hedgeye.com

Minister Khelil will provide his assessment of OPEC’s production cut agreement with Russia and other non-OPEC producers as well as to preview two upcoming meetings to decide the agreement’s future.

1) Joint Ministerial Monitoring Committee meeting on April 14/15 in Riyadh, Saudia Arabia will review the compliance of the various producers in the production cut agreement. The meeting will be attended by Saudi Arabia’s energy minister Khalid al-Falih and Russian energy minister Alexander Novak who both serve as co-chairs of the committee.  Since the meeting will take place after the Russian Presidential election in March, we may start to see Russian tea leafs about whether Russia will continue in the agreement that is opposed by its oil companies.

2) OPEC’s Summer Ministerial Meeting on June 22 in Vienna promises to be highly consequential to oil markets.  At the last OPEC meeting in November, the group extended the production cut agreement for 12 months until the end of 2018 but also added language at the insistence of the Russian minister to review the need for the agreement at the June meeting. As a result, there is a question mark about whether the Russians will participate after June and many questions about how the agreement ends or transitions after 2018. OPEC’s Secretary General is reported to be working on a framework for OPEC and Russian cooperation for 2019 and beyond. 

Minister Khelil will take us inside the OPEC decision making process and discuss the following topics:

• His and OPEC’s view of current market conditions; 

• Dueling OPEC and IEA demand forecasts; and

• Will Russia continue the agreement after the June meeting;

• What happens to the agreement in 2019;

• Any OPEC surprises.

The lunch event will be hosted and moderated by Hedgeye’s Senior Energy Policy Analyst Joe McMonigle who just returned from meetings in Riyadh and will also attend the June OPEC meeting in Vienna. 

The event is only open to Hedgeye clients. Please contact your sales representative for more information or email sales@hedgeye.com.