J.P. Morgan: Decision on OPEC deal extension could be delayed until next year

On Friday, Reuters reported key highlights from Christyan Malek's, J.P. Morgan's head of EMEA oil and gas equity research, report following his trip to Saudi Arabia where he met experts from the oil industry and senior ministers.

Key quotes

J.P. Morgan says Aramco IPO will be an important data point for when Saudi Arabia returns to battle for oil market share.

J.P. Morgan says view from Saudi is that it will look to increase long-term production capacity to 13.5 mln bpd assuming sufficient demand.

J.P. Morgan says Saudi decision to increase production capacity will be function of its OPEC influence diminishing post Aramco IPO.

J.P. Morgan says "Our trip to Saudi highlighted rising risk of OPEC (cut extension) decision deferral to 1q'18 if oil prices stay strong above $60/b.