OPEC+ Update

OPEC+ Update

Postby dan_s » Sun Jun 06, 2021 2:29 pm

OPEC+ decided not to address the potential return of Iranian oil to the market since nuclear talks between the U.S. and Iran were extended. It is now expected that Iranian oil may not reach the market, legally, until August at the earliest but more likely sometime at the end of Q3.

Depending on how the negotiations progress, OPEC+ will likely have to provide some guidance to the market as to how it plans to reintegrate Iranian production to the market at its July or August meetings.

Read this: https://www.investing.com/analysis/demand-not-opec-is-driving-oil-prices-200583956
Dan Steffens
Energy Prospectus Group
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