Opec+ has good reasons to be optimistic that demand will recover next year as people begin to move around more freely again. Yet a false sense of security could wreak havoc on the oil price, and member countries’ finances, before recovery takes hold. (Opec logo at its HQ)
AT the best of times, Opec’s management of the oil market is like flying a plane wearing boxing gloves.
In recent years, more pilots have crowded into the cockpit. Then, in 2020, one of the wings fell off as Covid-19 ravaged oil demand.
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