It seems likely that OPEC+ will opt to continue with October’s agreement to cut output quotas by 2mn bpd when the group meets on Sunday. That said, there are further signs that the group will become less cohesive. The UAE, in particular, is sounding increasingly bullish on output targets, which could increase tensions within OPEC+. Elsewhere, Germany’s deal to import Qatari LNG on a long-term deal grabbed the headlines this week but, as we have highlighted before, it will be difficult for Qatar’s (soon to be) booming LNG output to be the solution for Europe’s gas shortage.
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