Manifest density

摘要

The US’ exhortation to Opec+ to speed up its output increases is another reminder of the power of the retail fuel price in politics. “Production cuts made during the pandemic should be reversed as the global economy recovers, in order to lower the prices for consumers,” US president Joe Biden says. His administra- tion is pushing its agenda forward with the fnest of legislative advantages. It does not want high gasoline prices to further skew an already unfavourable mid-term election cycle in 2022. But the heavier sourer oil that Opec+ has to ofer is not a great ft for the market’s defcit in lighter products.