OPEC+ Emerges From 2020 Chaos to Face Delicate Balancin...
The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without capsizing the price recovery they spent most of 2020 working to achieve. Moscow believes that the group — which slashed output during the pandemic — can revive another 500,000 barrels a day of idle capacity in February, on top of an increase scheduled for this month. Riyadh, which has favored greater caution, is keeping its own views under wraps. “The outlook for the first half of 2021 is very mixed,” OPEC Secretary-General Mohammad Barkindo said at a prepar...
Source: dailymaverick.co.za
