Oil - OPEC+ meeting next week, demand is strong but there is fragility

Author: Eamonn Sheridan | Category: News

Via ANZ, a good overview of oil heading into the OPEC+ meeting July 1:

  • group ... reviews its production agreement
  • Increased travel and strong economic growth is likely to see the recovery in demand accelerate. This will tighten the oil market. 
  • However, the situation is fragile amid sudden outbreaks of COVID and the possibility of rising supply from a variety of sources. 
  • The market is calling out for more crude oil, while others are concerned about the inflationary impact of higher prices. 
Earlier previews:

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