Oil Market Paradox: Low Prices Despite OPEC+ Supply Cuts
Former JPMorgan Global Chief Economist (Ph.D. in Economics) & Current BrightQuery Chief Economist
Today’s June 2, 2024, virtual OPEC+ meeting, which included 22 Energy Ministers, extended their prior supply cuts. Previously, OPEC + reduced supply by 5.9 million barrels per day (mb/d), including 3.7 mb/d through the end of 2024 and an additional 2.2 mb/d of voluntary cuts by selected it…
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