Oil's rally puts pressure on OPEC+

Author: Giles Coghlan | Category: News

Oil supported

Oil is supported on demand recovery hopes as economies re-open, highways start moving, and planes are starting to fly again. On top of this, OPEC+ is making sure supply is tight.  This is draning inventories, pushing out the time spreads as Adam pointed out, and raising bullish forecasts. 

The pressure is now going to rise on OPEC+ to bring more supply on line. 

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