There have been already some murmurs about this since Friday, so this simply provides credence to the notion. As a reminder, OPEC+ will likely be discussing oil output coverage subsequent on 1 December i.e. this coming weekend. OPEC+ had already mentioned that they might delay the deliberate begin to easing manufacturing cuts from 1 December to 1 January subsequent 12 months. This comes because the bloc deems “market circumstances” to be as not supportive of including provide.
The query now forward of the assembly this weekend is will they delay these manufacturing cuts additional into later in Q1 2025. It would not be the most well-liked choice amongst sure members however kicking the can down the street would possibly simply be the suitable transfer total. That particularly since demand circumstances have not performed out as they might hope.
