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OIL: RBC Makes Case for OPEC+ Delay

OIL

OPEC+ has a “strong case” to extend the pause to bring back voluntary cuts to as late as Q2 2025 to get a clearer market picture according to RBC’s head of commodity strategy Helima Croft.

  • Trumps new administration could represents a number of wildcards for OPEC+, including the prospect of renewed sanctions against Iran and Venezuela.
  • Croft said Trump measures could curtail 750k-1mn bpd of exports but his administration will likely “place a call to key OPEC producers to try to get a simultaneous backfill of barrels”.
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OPEC+ has a “strong case” to extend the pause to bring back voluntary cuts to as late as Q2 2025 to get a clearer market picture according to RBC’s head of commodity strategy Helima Croft.

  • Trumps new administration could represents a number of wildcards for OPEC+, including the prospect of renewed sanctions against Iran and Venezuela.
  • Croft said Trump measures could curtail 750k-1mn bpd of exports but his administration will likely “place a call to key OPEC producers to try to get a simultaneous backfill of barrels”.