OPEC production expected to stabilize
A recent analyst note from KLR Group indicated that oil and gas markets could balance in 2017 as OPEC production begins to stabilize and U.S. production rolls off. Saudi Arabia’s oil production is expected to stay at about 10.4 MMBOPD, while Iran gradually ramps up production and Iraq’s output moderates.

The crash in oil prices followed OPEC’s decision to continue pumping in order to defend market share, a move in late 2014 that sent the market into a tailspin. KLR expects that Iran will increase produ...

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