Lates News

DNB Carnegie analysts say that if OPEC+ decides to cancel the second round of production cuts, global excess oil capacity will quickly shrink. This possibility may be discussed at Sunday's policy meeting. If the second phase of cuts is completely canceled, the related production increases will gradually progress over four to six months. This means that other oil-producing countries will have almost no additional capacity to respond to sudden demand growth or supply interruptions, making the global oil market more vulnerable when faced with external shocks.