This week’s decision from OPEC+ to cut the alliance’s collective oil production target by 2 million barrels per day (bpd) isn’t helping the already uncertain outlook of oil supply and oil trade flows, refiners and traders tell Bloomberg. Earlier this week, OPEC+ announced the biggest cut to its collective target since 2020, slashing the production target by 2 million bpd.
In reality, the actual cut from the current oil production level would be half that figure, at around 1 million bpd-1.1 million bpd, and shouldered mainly by…OPEC+ Production Cut Adds To Uncertainty In Oil Markets
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