The OPEC+ group is firmly back in control of the oil market and has the power to have it extremely tight in the second half of the year should it choose to do so, industry executives and hedge fund managers say. The market is growing increasingly bullish on oil, expecting robust global demand growth and supply constraints, including OPEC and Russia’s production cuts, to push prices even higher in the summer.
With Brent oil prices breaking above $90 a barrel, there is room for further upside amid tighter markets…OPEC+ Rules in an Increasingly Tight Oil Market
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