Thoughts on the status-quo OPEC+ Meeting
Markets have responded negatively to the status-quo outcome to Sunday’s meeting of the OPEC+ cartel. Prices for both Brent and WTI dropped more than 3% in Monday trading and were off another ~1.5% overnight. Obviously, traders were hoping the ministers would agree to deeper cuts in exports in light of apparent weakening in the global economy.
Here are some bullet points I put together for a client yesterday on what’s happening post-OPEC+:
Keep reading with a 7-day free trial
Subscribe to Energy Transition Absurdities to keep reading this post and get 7 days of free access to the full post archives.