The gradual unwinding of 2.2m b/d of voluntary OPEC+ cuts planned for after September could be delayed in markets are weaker than expected, according to Citi analysts, cited by Bloomberg.

  • "Overall, we maintain our base case that OPEC+ likely ends up holding full production cuts through 1H'25 in response to soft market conditions,” Citi said in a note.
  • Citi remains bearish for 2025, expecting that even should OPEC+ supply remain flat, increasing non-OPEC+ supply will outpace demand growth.

OIL: OPEC May Delay Output Cut Unwind: Citi

Last updated at:Jun-06 12:54By: Lawrence Toye

The gradual unwinding of 2.2m b/d of voluntary OPEC+ cuts planned for after September could be delayed in markets are weaker than expected, according to Citi analysts, cited by Bloomberg.

  • "Overall, we maintain our base case that OPEC+ likely ends up holding full production cuts through 1H'25 in response to soft market conditions,” Citi said in a note.
  • Citi remains bearish for 2025, expecting that even should OPEC+ supply remain flat, increasing non-OPEC+ supply will outpace demand growth.

MNI Podcasts

Unearthing fresh policy thinking & market intelligence.

Copyright 2024Twitter, Xlinkedin logo