The big guy is happy
Posted: Wed Jan 05, 2022 1:37 pm
As crude approaches 80
The White House applauded OPEC+’s decision to continue adding 400,000 bpd to global supply next month as well, with Reuters reporting the administration cited “close” coordination with Saudi Arabia and the UAE.
OPEC and its partners, led by Russia, yesterday decided to stay the course of adding oil production in line with original intentions after the worst of the pandemic was over. The cartel remains confident that demand for crude is strong enough to keep prices elevated even with the supply additions
The White House applauded OPEC+’s decision to continue adding 400,000 bpd to global supply next month as well, with Reuters reporting the administration cited “close” coordination with Saudi Arabia and the UAE.
OPEC and its partners, led by Russia, yesterday decided to stay the course of adding oil production in line with original intentions after the worst of the pandemic was over. The cartel remains confident that demand for crude is strong enough to keep prices elevated even with the supply additions