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OPEC⁺ Faces Moment of Truth on Planned Output Increase

Aug 22, 2024

In the next few weeks, Saudi Arabia and its OPEC⁺ allies must take a delicate decision about whether to proceed with planned production increases from October, or postpone them because of an uncertain economic outlook.The recent slides in front-month Brent futures prices, calendar spreads and refinery margins, amid concerns about the outlook for petroleum consumption, have dramatized the danger of getting it wrong…

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