Gregory Brew
speaker
418 appearances
1 recordings
1 series
first heard Jan 2026
last heard 7 Jan
Gregory Brew’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.
Appearances
Well, first I would say, you know, Venezuela is a marginal member of OPEC at this point, given how low its production has fallen.
It's excused from production cuts and production quotas because it's under sanction.
Incidentally, Iran is in the same position as is Libya.
Venezuela doesn't produce very much.
Really, OPEC is the G C C plus Russia at this point through the OPEC plus alliance.
Those are really the members that matter.
And they do matter.
I mean what OPEC has done over the last year, progressively pulling back production cuts, putting more crude on the market, signaling that they're going to produce more, even with prices falling, that's a pretty deliberate strategy.
Coming after years of trying to manage markets by cutting production.
They've now signaled that they're okay with prices falling as long as they're able to retake market share and also reduce the amount of spare capacity that's hanging over.
I mean, in 2024, there was maybe three, maybe four million barrels of spare capacity that was just hanging over the market.
And that's gonna put a pretty firm ceiling.
on prices when you have that much spare crude just lying on the sidelines.
OPEC is trying to unwind that.
They're comfortable with prices falling, I think, in twenty twenty six, maybe as low as you know in the fifties per barrel for Brent.
It's already in the fifties here in the US, the WTI price.
But OPEC is looking ahead.
They're looking into 2027, 2028.
And they reckon that by that point, they'll be coming out in a stronger market position.
They'll have squeezed their competitors, including their competitors in the US, and they'll have a bigger chunk of the market and less spare capacity that will put a ceiling on prices.
Showing 321–340 of 418 · page 17 of 21
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