OPEC+ has ‘kind of broken down’ as Russia loses relevance and group faces tight spare capacity
“Still, demand is not being destroyed, so it’s a very bullish set-up, but it’s kind of crazy to be honest. Everybody is flying more and driving more. It’s a crazy situation and our forecast is $110 to $150 Brent through the summer and beyond.”
- Oil producers in OPEC+ have not been able to meet their production targets and have limited spare capacity to increase output, analysts said.
https://www.cnbc.com/2022/06/03/oil...d-spare-capacity-russia-is-less-relevant.html
OPEC+ has ‘kind of broken down’ as Russia loses relevance and...
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