OPEC’s Mission for 2024 Is Looking Even Tougher
International Energy Agency data show the cartel and its allies may need to restrain supplies all year.
Russia President Vladimir Putin meets Chinese counterpart Xi Jinping in Beijing. Russia is the top oil supplier to China, and Moscow’s need to finance its war effort may threaten OPEC’s pricing strategy.
Photographer: SERGEI GUNEYEV/Getty ImagesWelcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, reporter Grant Smith analyzes the challenges OPEC faces in keeping global oil markets balanced this year. For more on how Red Sea attacks are affecting companies’ profits, read this. To get this newsletter sent to your inbox, sign up here.
OPEC’s mission to defend oil prices this year is starting to look even harder.