Here is an excellent piece by Julian Lee, Bloomberg, discussing the difficulty for OPEC to balance oil supply…
”The problem for the producers, and their allies in the wider OPEC+ group, is that they don’t wield nearly as much control over the market as some people accuse of them of doing. And that makes getting the timing of their actions right almost impossible. Unexpected external factors just seem to keep cropping up and, at least recently, many of them seem to originate with Uncle Sam.”
Some great charts, too:
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