OPEC+ has finally managed to reach a production cut agreement after several days of increased internal dissent. In its statement, the group reiterated a continued commitment to a stable market, the mutual interest of producing nations, the efficient, economic and secure supply to consumers, and a fair return on invested capital.
The production cut agreement that has been in place since April 12 2020 has been slightly adjusted. In light of the current oil market fundamentals and the outlook for 2021, the group has agreed to reconfirm the existing…The Worrying Truth About The New OPEC+ Agreement
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