The energy ministers of heavyweight OPEC+ producers dismissed the bearish market reaction to the group’s latest oil production plan, saying that market participants and analysts will realize soon that the alliance did the right thing in communicating its intentions. While OPEC+ extended this weekend most oil output reductions into 2025, it said it could begin unwinding some voluntary cuts after the end of the third quarter of 2024—subject to market conditions. Most analysts see the OPEC+ alliance’s announcement as bearish…
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