OPEC+ Will Consider Rolling Over Existing Cuts: Energy Aspects

The video discusses a virtual meeting focused on the current state of the oil market. It highlights weakened market fundamentals, with crude spreads moving into contango, which OPEC+ dislikes due to inventory build-up. The discussion includes the possibility of deeper production cuts, though the base case is maintaining existing cuts. OPEC+ recently implemented significant quota reductions, and the market will see these effects through 2023. The potential loss of Russian oil volumes due to price cap issues is also considered, which might lead to further production cuts, even if not officially announced in the meeting.

How might Russian oil production impact OPEC Plus's decisions?

What should the market expect regarding potential deeper cuts from OPEC Plus?