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OPEC+ Rollover Deal Sunday

OIL

OPEC+ agreed to stick to its oil output targets at its meeting on Sunday, a move which was widely expected based on numerous sources at the end of last week.

  • There still remained speculation that falling oil prices and a weak global economic backdrop could lead OPEC+ to cut further still but that option failed to materialise.
  • OPEC+ is waiting on China demand trends and how the compliance with the Russian oil price cap develops before committing to a policy change.
  • The group’s key ministers will next meet on Feb. 1 for a monitoring committee while a full meeting is scheduled for June 3-4.
Energy BulletsCommodities
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