OPEC+ reversed on Monday this month’s increase in oil production targets and cut the group’s collective quota by 100,000 barrels per day (bpd) for the month of October. While the move is totally negligible in terms of actual supply to the market, considering not only the slight change in the overall target but also the massive underperformance from the producer group in the region of 2.
9 million bpd below quota, the decisions of OPEC+ from Monday sent a strong message to the oil market that the group is ready to meet at…Further OPEC+ Production Cuts Could Be Looming
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