Opec+ treads softly amid myriad uncertainties

摘要

Opec and its partners remain focused on their eforts to draw down global oil stocks, sidestepping escalating geopolitical tensions that may ultimately not have any lasting impact on supply-demand balances. The Joint Ministerial Monitoring Committee (JMMC), co-chaired by Saudi oil minister Khalid al-Falih and Russian energy minister Alexander Novak, opted on 19 May to defer making any formal production policy recommendations, citing “critical uncertainties” afecting markets and macroeconomics, the trade dis- pute between the US and China, monetary policy and “geopolitical challenges”.