Is OPEC+’s decision balancing the market?

CEO of Crystol Energy, Dr Carole Nakhle, is quoted in this Al Jazeera article, commenting on OPEC+’s argument that they want to balance the market following the group’s decision to cut output by 2 million barrels per day.

Dr Nakhle stresses that the market always balances itself, that’s the basics of the interaction between demand and supply. The difference is that if you leave it to the market, it might give you a price that is much lower than what OPEC wants to see.

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