OPEC+ considers adding oil… WSJ – Commodity Research Group

June 23, 2021 by Jim Colburn Leave a Comment

Benoit Faucon and Summer Said, Wall Street Journal, summarize OPEC+ policy, here…
“OPEC and its allies are considering boosting the group’s collective output by some 500,000 barrels a day when they meet next week, delegates said, representing a modest boost to the world’s supply of crude as prices recover strongly.

The Saudi-led Organization of the Petroleum Exporting Countries and its Russia-led allies are moving cautiously in ramping up output, delegates said, worried about uncertain demand as the world’s economies recover unevenly. The group, called OPEC-plus, slashed output early last year by 9.7 million barrels a day as the pandemic shrunk demand. Cumulative additions over the past year will have brought back some four million barrels a day by next month.”

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

Reader Interactions

Leave a Reply Cancel reply