OPEC+ is expected to postpone once again its 120,000 barrel-a-day hike
- if so it’ll be the fourth time the plan has been delayed
- currently OPEC+ aims to restore 2.2 mn barrels a day total, in monthly increments, starting from April
ANZ analysts:
- OPEC’s ability to phase out production cuts without disrupting the oil market is getting increasingly difficult
- Given the economic and geopolitical uncertainties and its need to support oil prices, we expect OPEC will delay
This article was written by Eamonn Sheridan at www.forexlive.com.
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opec oil production postponed
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