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Commodities

OPEC TODAY'S EXTENSION OF OUTPUT CUTS TILL CY25 EXPOSES ITSELF TO SPECULATORS

ADMIN || 2nd June 2024

Background: Today OPEC+ agreed to extend most of its deep oil output cuts well into 2025, exceeding market expectations. OPEC+ members were currently cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7% of global demand.

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