OPEC+ extends oil production cuts

In this Arab News article by Frank Kane, Christof Rühl, member of the Advisory Board of Crystol Energy and a Senior Fellow at the Harvard Kennedy School and the Center on Global Energy Policy at Columbia University, comments on the latest agreement of OPEC+ members to extend output cuts on Saturday 6 June, 2020.

According to Christof, this is an important success for OPEC+ as it shows ability to deliver, willingness to address discipline, and coherence in the approach. The problem is that the more OPEC+ succeeds, the easier it becomes for private producers to enjoy the fruits of its labor.

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