RBC: If Oil Prices Fall Further, OPEC Will Act ...Middle East

If the selloff in oil continues and prices continue down, OPEC may well swing into action, RBC Capital Markets’ head of global commodity strategy Helima Croft told the Australian Financial Review today. “OPEC looks content to stay the course on the current production policy and is seeking to stay out of the confrontation between Russia and the West,” Croft said. “Nonetheless, we see clear scope for OPEC to adjust the production cut.” OPEC+ agreed on production cuts last year as the oil price rally from earlier in 2022…

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