OPEC+: To cut or not to cut?

In this interview given to Nour Amache from Asharq Business Bloomberg, Dr Carole Nakhle, CEO of Crystol Energy, discusses the latest developments in oil markets.

Dr Carole Nakhle discusses the latest developments in oil markets with Nour Amache from Asharq Business Bloomberg

Key takeaways:

  1. Dr Nakhle questions the accuracy of some publications reporting that OPEC+ could increase its oil production, as oil prices are hovering around the same levels that preceded the producers’ group decision to cut production by 2 million barrels a day (Mb/d) at its last meeting in October.
  2. Following the war in Ukraine, the International Energy Agency (IEA) warned that 3 Mb/d of Russian oil could be lost from the market. That forecast proved to be too pessimistic.
  3. On the demand side, Covid related policies continue to shape China’s economic outlook with repercussions on global oil demand and market.

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