OPEC+ may stick with deep oil cuts for longer due to weak demand
Portfolio Pulse from
OPEC+ is likely to maintain its current deep oil production cuts due to weak demand, as increasing output could be risky and further cuts are challenging due to some members' desire to pump more.
November 20, 2024 | 4:00 pm
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The United States Brent Oil Fund (BNO) may see price stability or slight increases as OPEC+ is expected to maintain deep oil production cuts due to weak demand.
BNO, which tracks Brent oil prices, is likely to be impacted by OPEC+'s decision to maintain production cuts. This could lead to stable or slightly higher oil prices, benefiting BNO in the short term.
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RELEVANCE 80