Oil Market Looks for Production Extensions From OPEC+

Dan Deming from KKM Financial discusses the OPEC Plus meeting in Azerbaijan, focusing on production extensions and market expectations. The IEA report highlights concerns about spare capacity despite low production cuts, affecting oil prices. Venezuelan sanctions pose challenges for OPEC, with political unrest and Iranian waivers adding complexity. US production trends and narrowing WTI Brent spreads are also analyzed.

What is the significance of the OPEC Plus meeting in Azerbaijan?

How does the International Energy Agency's report impact the perception of oil prices?

What challenges does OPEC face regarding Venezuelan sanctions?

In what ways could political unrest in the US affect OPEC's decisions?

What factors are contributing to the narrowing of WTI and Brent spreads?