OEF Rapid Review Articles
Now is the halfway point for the 6-month oil production cuts agreed by OPEC and the 11 other oil producing countries, and the market is very close to balance. The International Energy Agency has observed that “Even at this midway point, we can consider what comes next … extending their output cuts beyond the 6-month mark would be bigger implied stock draws. This would provide further support to prices, which in turn would offer further encouragement to the US shale oil sector and other producers.”
LINK TO THE SOURCE ARTICLE:
IEA: Oil Market Near Balance But US Production Could Rise Again
