UAE energy minister says there is no need for OPEC to adjust oil output plan for now

Author: Justin Low | Category: News

Adds that OPEC is not concerned about a supply surplus next year

After the decision to stick with the status quo at the start of the month, I don't think anyone expects otherwise with OPEC+ for the remainder of the year.

COVID-19 risks are becoming less prominent and the immediate threat to oil prices currently is risk sentiment as the market is honed in on the situation in China.
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