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OPEC+ Faces Decision Dilemma Amid Output Delay: Capital Economics

OIL
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The one-month delay by OPEC+ before starting to unwind output cuts will have a marginal impact on 2025 oil supply, Kieran Tompkins of Capital Economics in a note cited by Bloomberg.

  • However, the bloc is at a crossroads on how to proceed in the coming months and years as it looks to to support prices and regain lost market share.
  • In the longer term, OPEC+’s current approach of delaying and delaying cannot be sustained as the bloc inadvertently loses market share to outside producers who want to exploit reserves while demand is still rising, he said.
  • “This raises the chances of an even bigger change in tack on oil policy - a flood the market scenario - further down the line," Tompkins said.
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The one-month delay by OPEC+ before starting to unwind output cuts will have a marginal impact on 2025 oil supply, Kieran Tompkins of Capital Economics in a note cited by Bloomberg.

  • However, the bloc is at a crossroads on how to proceed in the coming months and years as it looks to to support prices and regain lost market share.
  • In the longer term, OPEC+’s current approach of delaying and delaying cannot be sustained as the bloc inadvertently loses market share to outside producers who want to exploit reserves while demand is still rising, he said.
  • “This raises the chances of an even bigger change in tack on oil policy - a flood the market scenario - further down the line," Tompkins said.