Crude oil prices to hold firm at US$40 a barrel on higher Opec+ production cut: Maybank KE

SINGAPORE (July 9): A deeper cut in production by members and non-members of the Organization of the Petroleum Exporting Countries (Opec+) is expected to support crude oil prices at US$40 a barrel.

Citing Platts’ figures, Maybank Kim Eng notes that Opec+ has delivered a 106% cut compliance in June, up from 85% in May.

Opec’s core members were instrumental in making additional voluntary cuts, it says.

---

Related Stories

• OPEC’s dilemma: Another year of supply curbs or price slump
• Saudi Arabia’s rating upgraded by Moody’s for the first time
• Citi gets nod from Saudi Arabia for regional HQ in Riyadh

---