Takeaway: Hedgeye hosting special lunch briefing in New York & Boston with former OPEC President & Algerian Energy Minister on OPEC's next steps.


Monday, June 11, 2018

12:30 PM

Location TBD

Boston, MA

RSVP to sales@hedgeye.com


Tuesday, June 12, 2018

12:30 PM

Location TBD

New York, NY

RSVP to sales@hedgeye.com

Join us for a special lunch with former OPEC President & Algerian Energy Minister Chakib Khelil to get an assessment of OPEC’s next moves at the upcoming June 22 meeting in Vienna.  Oil prices have increased faster than expected due to tightening fundamentals, declining Venezuela production and now Trump’s new US sanctions on Iran.

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.

Saudi Arabia’s energy minister said last week that OPEC was monitoring market conditions and pledged action to “ensure availability of adequate supplies to offset any potential shortfalls.”  However, the Saudi statement also correctly added that physical markets currently have “the availability of ample supply.”

Reuters on Tuesday reported that OPEC could “relax” compliance under the production cut agreement if it was needed to meet market conditions, according to Gulf sources. Another source told Reuters that “all options were on the table” if necessary. We noted a lot of “ifs’ in the Reuters report.

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;
  • Will OPEC relax compliance under production cut agreement;
  • Will OPEC exit early from production cut agreement;
  • Will Russia continue the agreement after the June meeting;
  • What price point/range is a catalyst for OPEC change in production;
  • What happens to the agreement in 2019;
  • Any OPEC surprises & your questions.

The lunch event will be hosted and moderated by Hedgeye’s Senior Energy Policy Analyst Joe McMonigle who 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.