OPEC's Plunging Spare Capacity Poised to Boost Forward Oil Curve [Bloomberg Business News]
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Bloomberg Business News
LISTEN TO ARTICLE 3:41 What happens if the Organization of Petroleum Exporting Countries can’t pump enough oil? The producer group meets in Vienna on Friday with Saudi Arabia leading a push to open the taps a little following a 60 percent surge in futures over the past year. If the world’s biggest exporter gets its way, then the resulting output increase will act as a stark reminder that OPEC’s spare capacity may soon be the smallest in three years. It could also be bullish for the price of oil along the forward curve. “If we see any further disruptions in the market, OPEC will have used their supply bullets and find themselves short of spare capacity, setting the stage for much higher prices,” said Bastien Declercq, head of CSC Commodities in London, a proprietary trading company specializing in oil derivatives. Boosting the Back Lack of spare OPEC capacity seen pushing futures curves even higher Source: ICE Futures Europe
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ICE
Earnings
- 2/8/24 - Beat
ICE
Sec Filings
- 4/5/24 - Form 4
- 4/3/24 - Form 144
- 4/3/24 - Form 144
- ICE's page on the SEC website