Oil Producers Turn the Screws as Market Tightens
OPEC+ members give no hints about a future easing of restrictions as prices reach six-month highs.
OPEC+ supply cuts are underpinning a steadily strengthening market for oil and gasoline.
Photographer: Eric Thayer/BloombergWelcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, oil strategist Julian Lee looks at OPEC+ policy in the context of a tightening market. The Zero podcast interviews the UK’s climate watchdog. To get this newsletter sent to your inbox, sign up here.
You’d be forgiven for thinking that oil producers might have contemplated opening the taps a little when they met yesterday. Think again.