The big news this week was the decision by some OPEC+ members to extend their voluntary output cuts until December. The immediate implications of the delay to unwinding voluntary output for the oil market are limited, as it will only tighten supply marginally through most of 2025. However, against a backdrop of slow demand growth, this decision raises further questions of how sustainable its pursuit of high prices is while inadvertently gifting market shares to other producers.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.