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Business & Finance

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.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe / Middle East / Africa
Countries: EnglandRussiaUAE
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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