The OPEC+ Production Boost May Have a Bigger Bark Than Bite
The real increase in output will likely be smaller than the headline figure, with perhaps only half reaching the market.
Storage tanks at the Kaleykino oil pumping station operated by Tatneft PJSC near Almetyevsk, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Welcome to our guide to the commodities markets powering the global economy. Today, oil strategist Julian Lee assesses whether markets can absorb the production increases approved by OPEC+.
Oil ministers from OPEC+ members agreed on another big increase in production targets for July. But is there room for those barrels without crashing prices?