OPEC+ meeting preview: The MUFG Global Markets Podcast

OPEC+ is in a spot of bother. The group is set to meet on 30 November and 1 December to determine the next phase of their historic production cuts that helped to carve out a floor under oil prices, at a time when high virus cases continue to weigh on global oil demand.

Ehsan Khoman, Head of MENA Research and Strategy, believes that the group will err on the side of caution and heed the market’s anxieties stemming from the virus resurgence on both sides of the Atlantic and unite behind a three-month delay in its next phase of tapering to April. This, he believes, will provide the group breathing space to adjust its reaction function to market conditions once the COVID-19 winter speed bump is hopefully behind us.

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