All eyes on Opec+ cuts

摘要

Opec+ will need to forego the 2mn b/d output increase scheduled for January given the return of Libyan exports and still faltering global oil demand growth. It looks likely that the group will agree to put this increase on hold at its meeting at the end of the month — for the frst quarter of next year at least. This will be enough to rebalance the market by late 2021, Argus Consulting estimates.