shale industry, OPEC+ sources said, reflecting a desire to rebuild revenue and supporting the case against raising OPEC+ output more quickly.
Top producers Saudi Arabia and Russia are also more confident that higher oil prices will not elicit a fast response from the U.S. Star Citizen Patch 2.6.3 Welcome to Alpha PTU 2.6. “The majority of OPEC+ members cannot raise production from current levels,” the bank said in a note, adding that even Saudi Arabia has emphasized the need to exercise caution given continuing uncertainty over the COVID-19 pandemic. “Oil prices have traded in a narrow range thus far this week, with investors assessing the likelihood of OPEC+ succumbing to pressure to add more crude to global oil markets as well as deliberations from the Federal Reserve policy meeting,” said Ehsan Khoman, head of emerging markets research at MUFG.Ĭiti analysts said that OPEC+ is likely to stick to current policy despite pressure from oil importers. This advertisement has not loaded yet, but your article continues below.
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