OPEC+ Could Extend Oil Cuts, Formal Talks Yet To Start
Portfolio Pulse from Charles Gross
OPEC+ is considering extending oil production cuts, but formal discussions have not yet begun, according to sources cited by Reuters. This consideration could impact global oil supply and prices.
May 02, 2024 | 10:44 am
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The United States Oil Fund (USO) could see short-term price fluctuations if OPEC+ decides to extend oil production cuts, affecting global oil supply and prices.
The United States Oil Fund (USO) tracks the price of oil. If OPEC+ extends production cuts, reduced supply could lead to higher oil prices, potentially increasing USO's value in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80