In a dramatic year that has turned the global economy around in many different ways, the economic situation in the GCC is finally starting to stabilise. Oil prices are fixed around $45 per barrel since June despite the slight increase in Opec+ output, which indicates the markets’ successful absorption of the increase.
Opec’s second largest producer, Iraq, finally committed to its previous statement to compensate for earlier production quota violations. It is a positive response to the organisation’s demands for the members to comply with the plan to stabilise the market for the greater good of all producers.
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.