Coffee price 🏒; OPEC+ in can-kicking mode

Fans of hockey-stick graphs would appreciate recent developments in the coffee market, where prices have surged by 30%+ this month on the back of poor growing weather in Brazil. History suggests that coffee prices will only ease back as and when supply improves and stocks are replenished. Crucially, this is a process that can take years, not months. Meanwhile, the main event next week will be the OPEC+ meeting at which the group is likely to kick the proverbial can down the road once again and further delay the gradual unwinding of its supply cuts.