When OPEC and its partners led by Russia first announced additional oil production cuts last year, the market brushed it off. Prices fell. Forecasts for peak oil demand echoed off news publications. OPEC+ persevered, however. It persevered to the point where some analysts noted that there was no longer a way back, and the cartel would have to make the cuts permanent if it didn't want to see prices plummet at the slightest sign of production growth. And then something happened. The market caught up. Brent crude closed above $87 per barrel on Friday…
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