It’s that time of year again when we all try to make predictions of what’s going to happen next year in the LPG industry, and start to think about setting a few New Year’s resolutions, some we’ll keep and others we won’t. Will it be more interesting than this year, well the LPG market always throws up surprises, and that is about all we can guarantee. Bring on the new decade!
Yesterday we were looking at the OPEC announcement to cut crude oil production by 500 M Bbls/d, and the subsequent announcement that Saudi Arabia would maintain its voluntary and additional 400 M Bbls/d production drop. Just to show how difficult it is to gauge reality from rumour, there were strong noises coming out that earlier, Saudi Arabia and Venezuela had actually proposed a 500 M Bbls/d increase, even though this was of course strenuously denied.
Rumours surfacing, resurfacing, announcements, pronouncements, you guessed it, it’s OPEC time again. It seems more and more the case that whatever OPEC announces our attention in the LPG world, and for that matter the rest of the energy market, switches to Saudi Arabia, and whether Prince Abdulaziz bin Salman has said anything, he normally has to!