OPEC+ implements another aggressive supply increase. Effective in June, this increase strengthens a policy transfer. Through prospects of further major supply increases in the months in the future, we have changed our lower oil forecasts, Ing's commodity experts Warren Patterson Note.
Saudis can cute spend and/oi -tap debt markets
“The Saudis was the driving force behind the larger-than-scheduled supply increase to punish members repeatedly made above their targets. OPEC+ the market was surprised in April with an increase in supply of 411k B/D for May, above the scheduled increase of 135k b/d. Last week, the group decided in June. “
“Originally, OPEC+ was intended to restore 2.2mb/d of supply within an 18-month period, running until September 2026. However, in three months, the group decided to restore nearly 1m b/d of supply. The oil market dealt with significant demand uncertainty amidst the risk of tariff risks. OPEC+ will decide on the July output levels on June 1
“The key to knowing how far the Saudis will take what is beginning to look like a price war is the country's tolerance for low oil prices over time. Saudis needs around US $ 90/BBL to balance their fiscal budget, quite a distance above the current prices. Saudi Arabia will be able More than the level and current oil prices mean that Saudis needs
