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Takeaway: Former OPEC President and Hedgeye analyst Joe McMonigle discuss OPEC deal failure on continued oil cuts & next steps for OPEC & oil markets

If you are an institutional investor interested in accessing this call or related research please email sales@hedgeye.com.

Flash Call: OPEC Deal Failure | Today @ 12:30pm ET - Crud

Former OPEC President and former Algerian energy minister Chakib Khelil and Hedgeye's Senior Energy Policy Analyst Joe McMonigle, who just returned from Vienna, will do a FLASH conference call for clients Monday moderated by Hedgeye Director of Research Daryl Jones.

They will discuss OPEC's recent failure to reach a deal with Russia on deepening and extending production cuts through 2020 to deal with demand destruction from coronavirus. 

OPEC was unified in wanting to make deeper production cuts of 1.5 million b/d through the rest of 2020 on top of the 1.7 million b/d cuts made in December and that expire on March 31. Russia was satisfied with current price levels and only offered to extend the current 1.7 million b/d cuts for the second quarter.

In today's call, Chakib will discuss where OPEC goes from here and his view of oil markets for the rest of the year.  Also, Joe will provide a behind the scene's view of the meeting and discussions as well as preview potential prospects for a deal by March 31 deadline as well as next steps with a scheduled OPEC JTC meeting in mid-March and the next OPEC meeting on June 9.

If you are an institutional investor interested in accessing this call or related research please email sales@hedgeye.com.