OPEC+ is facing a ‘very delicate, fragile balancing act’ in the oil market, strategist says
August 3, 2020
CNBC OPEC and its allies need to find a balance between supporting oil prices and keeping U.S. crude production at bay, a strategist told CNBC this week as the oil-producing group starts to roll back supply cuts. The alliance’s historic production cuts of 9.7 million barrels per day expired on July 31 this year. From August, the cuts will be tapered to 7.7 million bpd.
