The Two OPEC Members Benefitting From The Cut

While OPEC is preparing for yet another meeting to discuss
compliance with its notorious production cut deal, two of its
members are enjoying something of a windfall thanks to high demand
for their crude grades from refiners around the world. In the
latest sign that the market does indeed abhor a vacuum, Nigerian
and Angolan crude oil is taking the place of the crude of Middle
Eastern produces that are cutting their exports as part of the
deal. Nigeria is exempt from the cut, at least for the time being.
Angola isn’t exempt, but this fact…

While OPEC is preparing for yet another meeting to discuss
compliance with its notorious production cut deal, two of its
members are enjoying something of a windfall thanks to high demand
for their crude grades from refiners around the world. In the
latest sign that the market does indeed abhor a vacuum, Nigerian
and Angolan crude oil is taking the place of the crude of Middle
Eastern produces that are cutting their exports as part of the
deal. Nigeria is exempt from the cut, at least for the time being.
Angola isn’t exempt, but this fact…