OPEC+ Has Lots of Dry Powder for Further Cuts

May 24, 2023/in /by Rudolf Huber

OPEC might take further cuts in the future but I have a feeling it won’t be easy and without consequences even in the biggest and most powerful of all those countries. You see, with higher revenues also come bigger spending plans and habits. Spending always rises way faster than cutbacks come in when things are less sparkling. Even the king of the hill among its OPEC peers, Saudi Arabia, has a public budget and the money for it comes mostly from oil. If you are used to hardship, some more of it won’t get you in trouble. But if you are used to the easy life and suddenly just mildly less luxurious times roll in, this might cause revolts.

'OPEC+ has only just begun cutting'.

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I met Rudolf at the beginning of 2011, since we were both involved and working together within several European / Scandinavian projects for the development of technology, standardisation and legal aspect in the use of LNG as marine fuel and along its supply chain. Rudolf has vast expertise in, and perspective on, different aspects of LNG technologies, suppliers, infrastructures and supply chain options. He is able to provide a deep understanding and insight into these areas and is a conscientious and diligent source. Moreover, he is a tremendous visionary on the geopolitical, trading and technology aspects of energy, with a special remark for LNG traditional and small / mid magnitude chain. Rudolf has very proactive personal and working approach and is an excellent team worker and leader. Not least, he has a unique persuasive way of writing, negotiating and delivering speeches. I would certainly recommend him as an excellent expert and believe he would be a powerful asset for any company actively working in Oil and Gas. Thank you Rudolf! Marco

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