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OPEC can increase oil supply without stifling a rebound in oil prices

 Last Update: 2021-11-06
 Source: Internet
 Author: User

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We are likely to see a rare event later on March 4, OPEC may choose to increase oil supply, and oil prices will rise
.
The two key questions for OPEC this time are: After unilaterally reducing production by 1 million barrels in March and April, how much more output can Saudi Arabia add to the market? How much output can other countries increase? According to data from consulting firm Energy Aspects, the possible answer is that output will rise by 1.
4 million barrels per day
.
Analysts expect that with the introduction of the vaccine, the demand for crude oil will rise sharply in the next few months, so even if the production is increased so much, the oil supply will remain tight
.
Even if there is additional supply on the market, it should not be surprising that overall oil prices continue to rise
.

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