EIC ANALYSIS
Oil producers at the 4th OPEC and Non-OPEC Ministerial meeting reached a deal to raise crude supply. On June 22nd, 2018, at a joint meeting in Vienna, Austria, oil producers have reached an agreement to raise crude supply by cutting compliance rate from 152% in May 2018 down to 100% by 1 July 2018. This will help maintain balance between global demand and supply of crude, and hence ensure stability of crude price. This agreement is expected to add around 1 million barrels of crude supply per day, or roughly 1% of the global supply
FLASH
  • EIC FORECASTS
    2017
    2018
  • GDP (% YOY)
    3.9% (a)
    4.3%
  • Export (% YOY)
    9.9% (a)
    8.5%
  • Policy Rate (% p.a.)
    1.5% (a)
    1.5%
  • Headline Inflation (% YOY)
    0.7% (a)
    1.3%
  • THB/USD
    32.6 (a)
    32-33
  • Oil Price-Brent ($/b) (Avg.)
    54 (a)
    72
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