OPEC+ Cuts That Steadied Market Now Bring Risk of $100 Crude
- There’s a danger OPEC+ will over-tighten supplies, says DNB
- Demand is faltering, but EU sanctions threaten Russian exports
The OPEC+ oil supply cuts, which started this month, anchored crude near $95 a barrel.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Oil’s rise toward $100 a barrel is exposing some of the risks in OPEC+’s controversial production cuts.
For about a month, the group’s decision appeared to fulfill its stated aim of stabilizing oil markets, with crude prices steadying against a deteriorating backdrop for fuel demand.