3 May 2024
Pricewatch – Oil curve sags on 'damp squib' OPEC deal
Publication date: 26 May 2017
Gas Strategies Group
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Oil futures curves have slumped back to more bearish territory after OPEC members reached what was widely perceived as a disappointing agreement to prolong their ongoing production cap into next year.
The proposal to further restrict output in a bid to drive up prices confirmed market belief that OPEC is only offering more of the same.
On this basis, prices are expected to ...