, Columnist
OPEC+ Flexibility Needs to Cut Both Ways
The oil producers’ group should agree to a bigger-than-expected output increase. After all, it can always reverse course if things don’t go as planned.
OPEC needs to open the taps.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Flexibility needs to be the guiding principle of the OPEC+ group right now — after all, that’s why its member are meeting every month.
The oil ministers of the Organization of Petroleum Exporting Countries and their allies will meet on Thursday to decide their production target for August, and perhaps beyond. They are gathering with Brent crude close to its highest level since October 2018, amid calls from key customers for them to boost production.