Opec+ may have played its final card with voluntary crude cuts


The price action most likely reflects the market view that the Opec+ action is probably not enough to tighten the global supply-demand balance in the first quarter sufficiently to spark a rally. — Reuters

The additional crude output cuts by Opec+ should do two things, and neither of them are likely to please the group of oil exporters.

Firstly, the reduction of about 2.2 million barrels per day (bpd) for early next year should put to rest the idea that global demand growth for crude is strong.

Subscribe now for a chance to win your dream holiday!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Insight

Fed may be two meetings away from policy mistake
Do ESG scores boost valuation?
Can Hong Kong make stablecoins safer?
Is the greenback debt or equity?
Deutsche Bank is reviving bad memories for its investors
Key risks ahead for the global economy
Singapore’s homegrown farming dream is beginning to fade
RCEP fostering development in S-E Asia
Alibaba bets on Taobao, Tmall clothing merchants to compete overseas against Shein, Temu
Lessons from a global information technology outage

Others Also Read