EnergyScan

Market power at its finest

Crude prices rallied by 5% as OPEC decided to roll over the current production agreement, while Saudi Arabia extended its voluntary cut for another month. The radical change in the group’s strategy, now aiming at price appreciation instead of volumes, is predicated on the assumption that US producers will not enter the market in 2021.  

opec-supply-revisions
Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

ES-oil
March 11, 2021

Softness in the East?

Crude prices remained broadly steady as the EIA weekly snapshot reflected a growing discrepancy between US crude oil and fuel markets with a net build…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter

Don’t have an account yet?  Sign up here!

[booked-calendar]