EIA: Opec Cuts Must Extend to 2021 to Prop Oil Price

摘要

Opec and its allies are only officially scheduled to keep cutting production through March this year, but the latest Short-Term Energy Outlook (STEO) from the US Energy Information Administration (EIA) suggests the group will have to keep holding production back through the end of 2021 to keep a floor under prices (related). Opec cuts have been continually extended since 2016 as non-Opec production growth keeps outpacing demand growth.