OPEC+ Cuts Are Tightening the Oil Market
- Top traders see price rally as outlook flips to supply deficit
- OPEC+ officials see no need for changes at next week’s review
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When OPEC+ ministers take stock of global oil markets next week, they’ll see plenty of evidence that their production cuts are working.
After a subdued start to the year, crude prices are showing increasing signs of life as the supply reductions by Saudi Arabia and its allies combine with surprisingly resilient demand.