Reuters exclusively reports OPEC+ sees oil cut extension curbing 2021 rise in oil stocks

Reuters exclusively reported that OPEC and its allies (OPEC+) see oil inventories declining further in 2021 should producers extend supply curbs for three months or more, supporting the case for a tighter policy on crude output next year. The OPEC+ producer group, for now, is due to raise output by 2 million barrels per day in January, or about 2% of global consumption, as part of an earlier agreement to steadily ease record supply cuts that were implemented this year. But weakening demand has prompted OPEC+ to consider delaying the increase.