Dividend Digest
OPEC Won’t Restrict US Refiners (Or Their Dividends)
november 14, 2018
The Organization of Petroleum Exporting Countries (OPEC) just had one of their regular meetings, where they reported that for the four quarters of 2018, they saw drawdowns from reserves and storage from a deficit in their production against the sales from their member producers. Saudi Arabia is arguing for a cut to official OPEC production limits, meaning there would be less crude to go around and prices would go up. This is perhaps a threat to the lucrative US refinery market and for the dividend payments of many of the leading companies in that space.