UAE Source Said OPEC+ Seeks to Avoid Accumulation of Global Oil Stocks
Portfolio Pulse from Charles Gross
According to a UAE source, OPEC+ is seeking to avoid the accumulation of global oil stocks. This news was reported by Bloomberg.

July 03, 2023 | 9:46 am
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NEUTRAL IMPACT
The United States Oil Fund (USO) could be impacted by OPEC+'s efforts to avoid the accumulation of global oil stocks.
OPEC+'s decision to avoid the accumulation of global oil stocks could influence the oil market dynamics, potentially affecting the performance of oil-related assets like USO. However, the exact impact will depend on how these efforts are implemented and their effectiveness.
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