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OIL: Growing Expectation OPEC Will be Forced to Delay Barrel Return

OIL
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OPEC is unlikely to unwind voluntary production cuts in the short term, executives of global commodity trading giants Vitol, Trafigura and Gunvor said at the Energy Intelligence Forum in London this week.

  • This adds to the growing list of market views such as Goldman, RBC and Citi that believe OPEC+ will struggle to unwind voluntary cuts, early next year and may be forced to push them back further.
  • OPEC has already delayed the return twice.  
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OPEC is unlikely to unwind voluntary production cuts in the short term, executives of global commodity trading giants Vitol, Trafigura and Gunvor said at the Energy Intelligence Forum in London this week.

  • This adds to the growing list of market views such as Goldman, RBC and Citi that believe OPEC+ will struggle to unwind voluntary cuts, early next year and may be forced to push them back further.
  • OPEC has already delayed the return twice.