OPEC+, oil prices and two implications for financial markets

Although yesterday’s decision by OPEC+ to stick to its planned output increases didn’t cause a big reaction in global financial markets, we still expect the price of oil to decline over the next couple of years. This is because we expect that a steady increase in global oil supply will outweigh the recovery in demand. In our view, this would have two main implications for financial markets more generally.
Bethany Beckett UK Economist
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