Watching oil markets used to be like slow-motion photography. Now the flm has speeded up to the pace of a Buster Keaton chase. Perceptions for the global economy rapidly deteriorated from a modest growth slowdown at the start of the year to a massive recession by the second quarter as countries shut down to stem the spread of Covid-19. Producers have had to accelerate their decision-making process just as quickly. Ministers from the Opec+ group of producing countries are beginning to see the value of monthly adjustments to their agreement.
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