Sakshi Batra does a 3 point analysis on what are the expectations from the OPEC meet and what could be each member nation's stance.
OPECs meeting kicks off on December 6 in Vienna to decide the cartel’s future course of action. Crude oil prices have seen a sharp plunge in the last two months which has impacted fortunes of oil exporting countries.
The softness has come due to:
1) Expectations of a slowdown in demand growth,
2) Softness in the implementation of Iranian sanction with US granting waivers to eight countries
3) Rapidly rising supply
4) An uptick in the US reported inventories and
5) Covering of hedge exposure of banks.Sakshi Batra does a 3 Point Analysis on what are the expectations from the OPEC meet and what could be each member nation's stance.