The following four scenarios will be discussed at the continued session of the 13th #OPEC & Non-OPEC meeting today:
1-Given the expected growth of demand by 5.9million bpd in 2021 and the expected growth of supply by non-OPEC countries by 1.1million bpd, as agreed in Dec... #OOTT

.... the 23 countries will increase production by 500 thousand bpd for the month of February - similar to January.

2- Given the expected growth of demand by 3.9 million bpd in 2021 , and the expected growth of supply by non-#OPEC countries by 800 (or 900) thousand bpd,...#OOTT

... as agreed in December, the production by the 23 countries will increase by 500 thousand for the month of February - similar to January. This scenario is practically the same as scenario number one, expect for lower forecasts for demand and supply. #OOTT

3- No increase (of 500 thousand bpd) for the months of February and March, and an increase of 500 thousand bpd for the moths of April, May and June each. In this scenario as well the ministers will hold monthly meetings to appraise the market and decide. #OOTT

4-The 500 thousand bpd increased in January to be decreased for the month of February. No increase for the month of March, and instead an increase of 500 thousand bpd for the months of April, May, June, and July. The probability for this scenario is considered to be low. #OOTT