OPEC-Watchers Predict Extension of Oil Cuts Into Next Quarter
- Curbs to be renewed, 14 of 17 polled traders and analysts say
- OPEC+ must persevere to avoid price ‘meltdown’: PVM’s Varga
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OPEC+ is expected to continue its current oil-supply cutbacks into the next quarter in a bid to avert a surplus and prop up prices.
Saudi Arabia and its partners plan to decide early next month whether to extend roughly 2 million barrels-a-day of curbs beyond March. With global demand growth slowing and US crude production climbing, OPEC+ may need to persevere, according to a Bloomberg survey.